Arabian Drilling renews 4 rig contracts with Saudi Aramco at $533 million
Arabian Drilling has secured four rig contract renewals worth more than $533 million, adding 30 committed rig years to its active backlog, the company said in a press release. The renewals lift the group’s total backlog to $3.2 billion through the end of 2025, the highest in its 61-year history. With these agreements, Arabian Drilling has completed all planned rig contract extensions for 2025. Two of the renewed contracts cover rigs that were previously set to expire in 2026. Three of the four contracts relate to recently announced resumptions, while one is currently active. The contracts—signed with Saudi Aramco—carry tenors ranging from 5 to 20 years. Their financial impact is expected to begin upon deployment in the first quarter of 2026. Arabian Drilling and Aramco had earlier agreed to expand four rigs in a deal valued at $347 million.

