Arabian Drilling, Aramco extend SAR 1.4B contracts for 4 rigs

Arabian Drilling Co. secured contract extensions for four of its rigs with Saudi Arabian Oil co. (Saudi Aramco), for a total backlog value of SAR 1.37 billion, with durations varying between one and ten years.

The extension elevates the company's current backlog to SAR 11.1 billion, Arabian Drilling said in a statement to Tadawul, expecting to realize the financial impact from Q3 2025.

The renewal is a key component to Arabian Drilling’s efforts to extend the operational life of rigs scheduled to expire this year, which totaled 22 rigs on 31 March 2025.

Following the prior announcement in May 2025, where Arabian Drilling extended contracts for two rigs, each for a period of 10 years, discussions continue regarding the renewal of the remaining rigs, the statement added.

According to data available on Argaam, Arabian Drilling extended in May long-term contracts for two onshore drilling rigs with Saudi Aramco, valued at SAR 1.06 billion, with a duration of 10 years for each drilling rig.