Arabian Drilling extends offshore contract with Khafji Joint Operations Company for three years
Date of Announcement of the Award
2025-07-14 Corresponding to 1447-01-19
Contract Subject Matter
Arabian Drilling extends offshore contract with Khafji Joint Operations Company for three years
The Entity with Which the Contract was Signed
Khafji Joint Operations Company
Date of Signing the Contract
2025-07-13 Corresponding to 1447-01-18
Contract Value
8.0% to 12.0% of 2024 revenues
Contract Details
The company has successfully secured a three-year extension of an offshore drilling contract with Khafji Joint Operations Company (KJO) with a total backlog addition ranging from 8.0% to 12.0% of the Company’s 2024 revenues.
Contract Duration
Three years
Financial Impact and the Relevant Period
Looking at the total fleet as of March 31, 2025, 19 rigs had contracts set to expire within the year. Of these, contracts for 6 rigs have already been successfully renewed. Negotiations are actively continuing with clients to secure the renewal of the remaining rigs.
This contract extension is in direct continuation of the existing contract and is effective as of today.
Related Parties
Not Applicable
Additional Information
Not Applicable
Attached Documents
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