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Arabian Drilling rakes in over $400m in jackup deals

The largest onshore and offshore drilling company in Saudi Arabia by fleet size, Arabian Drilling, has won extensions for several of its jackup rigs.

The three-year contract extension was signed with Khafji Joint Operations (KJO). The company is a joint venture between Aramco Gulf Operations and Kuwait Gulf Oil, covering oil and gas operations in the Saudi Arabia-Kuwait Neutral Zone.

The financial details of the contract were not revealed. However, the driller said that the total backlog addition from this deal would be between 8.0% to 12.0% of the company’s 2024 revenues or between $77m and $116m.

This contract extension is in direct continuation of the existing contract and is effective as of Monday, July 14. The name of the rig was not disclosed.

As of March 31, 2025, 19 rigs had contracts set to expire within the year. Of these, contracts for six rigs have already been successfully renewed, four of which earlier this month. Aramco extended the deals for a combined backlog value of SAR 1.3bn ($366m) and durations varying between one and 10 years.

The first two jackup extensions won in 2025 were for 10 years each. The company was awarded those deals in May.



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