Arabian Drilling, the largest onshore and offshore drilling company in Saudi Arabia by fleet size, recently announced that it has signed a major four-year contract with Khafji Joint Operations (KJO). Under the agreement, Arabian Drilling will provide four high-specification jack-up offshore drilling rigs along with associated drilling services.
The contract is valued at approximately $533 million, with the associated revenue to be recognized in the company’s financial results starting from the end of the fourth quarter of 2026.
Arabian Drilling stated that this is the largest single offshore drilling contract the company has secured from KJO; it expands the offshore drilling fleet serving KJO and increases the number of rigs the company operates for the client by 200%.
With this order, Arabian Drilling’s order backlog has climbed to approximately $4.8 billion, marking a new all-time high.