Saudi-focused drilling firm Arabian Drilling has secured a contract to supply Saudi Aramco with ten new land rigs and full crews for its unconventional drilling program. In a 31 July announcement, the firm stated it received multiple five-year contracts for the rigs with a total value in excess of SAR3bn ($800mn).
Arabian Drilling is a venture between Saudi Arabia’s Taqa (35.7%) and SLB (formerly Schlumberger: 34.3%), with the remaining 30% listed on the kingdom’s Tadawul bourse. The firm says that the additional ten rigs will be newbuilds and will supplement its existing land fleet of 38 rigs. The additions will bring the venture’s onshore fleet to 45, implying that three rigs will be disposed of. There was no information provided as to when the newbuild rigs will be delivered, and Arabian Drilling did not respond to a request for clarification. (CONTINUED - 635 WORDS)