Arabian Drilling extends 3 land rig contracts with Aramco for SAR 1.4B

Arabian Drilling Co. signed today, Jan. 13, three contract extensions for land rigs with a total value of SAR 1.4 billion, adding 25 rig years to its backlog, according to a statement to Tadawul.

One rig is operational, the second will start operations by the end of January, and the third is suspended with projections to resume operations during 2026, Arabian Drilling said.

Together with the four most recent contract extensions announced on Nov. 17, 2025, Arabian Drilling has secured seven contract extensions. These agreements amount to SAR 3.4 billion and represent 55 committed rig years.

According to the statement, the new contract durations span 10 years, 10 years and 5 years.

The company expects its offshore utilization rate to reach 100% by Q2 2026, while it expects the utilization rate of the company’s entire fleet to reach 80%, up from 73.8% in the third quarter of 2025.