Saudi-headquartered Arabian Drilling has won multiple contracts worth $800 million from Saudi Aramco to supply 10 new land rigs for the oil major’s unconventional gas program in the Kingdom.
In a bourse filing, the Saudi onshore and offshore drilling firm said that all 10 new units will be added to the company’s current land rig fleet of 38 units, representing an increase of 26 percent.
Arabian Drilling said the five-year deal is expected to contribute to the company’s revenue from the second quarter of 2024.