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Arabian Drilling Announces Three (3) New Land Rigs Contracts signing for Unconventional Gas
| Element List | Explanation |
|---|---|
| Introduction | New Contracts Signature |
| Date of Announcement of the Award | 2024-02-08 Corresponding to 1445-07-27 |
| Contract Subject Matter | Arabian Drilling announces long term contracts signature for three (3) land rigs with Saudi Aramco |
| The Entity with Which the Contract was Signed | Aramco |
| Date of Signing the Contract | 2024-02-08 Corresponding to 1445-07-27 |
| Contract Value | Contracts value is up to (850) eight hundred and fifty Million Saudi Riyals |
| Contract Details | Arabian Drilling will supply Three (3) new land rigs with full crews for Aramco’s unconventional program in the Kingdom of Saudi Arabia. For the sake of clarity, the total number of rigs contracted after the signing of these contracts will be (48) onshore rigs and (12) offshore units. |
| Contract Duration | 5 Years |
| Financial Impact and the Relevant Period | Contribution to the Company's revenue is expected to start in Q1 2025. |
| Related Parties | None |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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