The reactivation of the Perro Negro 7 jack-up drilling rig in Saudi Arabia signifies a recovery in drilling activities within the Middle East, a crucial market for the company. The rig's operations, suspended by Saudi Aramco for one year in 2024, have now restarted.

Contract Details and Fleet Status

The suspension period for the Perro Negro 7 will be recovered by extending its contract with Saudi Aramco until 2034. Regarding other rigs, the company had two of its owned rigs suspended or terminated by Aramco: the Perro Negro 7 and the Perro Negro 10, with the latter understood to be under contract with Eni in Mexico. Furthermore, two additional non-owned rigs, Perro Negro 9 and 12, were also suspended but have been returned to their owners. Three more company-owned jack-ups—Perro Negro 8, 11, and 13—continue to work for Saudi Aramco and were not included in the suspension program.