Saudi Aramco has awarded three onshore rig contract extensions to Arabian Drilling, valued at 1.4 billion Saudi riyals ($373.3 million). This move is part of Aramco's significant investment in sustaining production at major oilfields and expanding its gas output, which is driving robust demand for drilling services in the Kingdom.

Contract Details and Operational Status

The extensions add 25 active rig years to Arabian Drilling's backlog. Of the three rigs, one is currently operational, a second is expected to be operational by the end of January, and a third is suspended with operations anticipated to resume in 2026. Two of the extensions are for 10-year terms, while the third is for five years.

Recent Contract Awards

Including four contract extensions announced in November, Arabian Drilling has now secured a total of seven extensions in the past three months. Collectively, these agreements are worth 3.4 billion Saudi riyals and represent 55 committed rig years of work.