Arabian Drilling, the largest onshore and offshore drilling company in Saudi Arabia, recently announced that it has secured contract extensions for several jack-up drilling rigs.
According to reports, Arabian Drilling has signed a three-year extension contract with Khafji Joint Operations (KJO), a joint venture between Aramco Gulf Operations and Kuwait Gulf Oil, which is responsible for oil and gas operations in the neutral zone between Saudi Arabia and Kuwait. The extension contract will take effect on July 14, and the drilling rigs involved have not been disclosed.
The financial details of the contract were not disclosed, but Arabian Drilling revealed that the value of the deal would account for 8.0% to 12.0% of its 2024 revenue, or $77 million to $116 million.
As of March 31, 2025, Arabian Drilling has 19 drilling rig contracts that will expire within the year. Among them, six drilling rig contracts have been successfully renewed, with four of them completed in early July. Aramco extended contracts worth a total of 1.3 billion Saudi riyals (approximately US$366 million), with terms ranging from one to ten years.