Arabian Drilling, Aramco extend SAR 290M land rig contract

13/11/2024 Argaam
Arabian Drilling Co.'s land rig

Arabian Drilling Co.'s land rig

Arabian Drilling Co. (ADC) extended a long-term contract for one of its Saudi Aramco land rigs for SAR 290 million.

 

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The contract was extended for five years starting from the expiration of the current contract during the fourth quarter of 2024, the company said in a statement to Tadawul.

 

There are no related parties to the deal.

 

Earlier this week, ADC extended a long-term contract for one of its Saudi Aramco land rigs for SAR 440 million, Argaam reported.


The company generated SAR 2 billion in revenue from land rigs in 2023, or 57.8% of its total topline.

 

 

 

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