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Arabian Drilling Announces Ten New Land Rigs Contracts signing for Unconventional Gas

Element ListExplanation
Introduction New Contracts Signature
Date of Announcement of the Award 2023-07-31 Corresponding to 1445-01-13
Contract Subject Matter Arabian Drilling announces long term contracts signature for Ten (10) land rigs with Saudi Aramco
Date of Signing the Contract 2023-07-31 Corresponding to 1445-01-13
Contract Value Contracts value is over (3) three billion Saudi Riyals (Excluding VAT)
Contract Details Arabian Drilling will supply ten (10) 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 (45) 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 Q2 2024.
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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