ARABIAN DRILLING ANNOUNCES EXPANSION OF OFFSHORE OPERATIONS WITH FOUR NEW RIG CONTRACT FROM KJO VALUED AT APPROXIMATELY SAR 2 BILLION, INCREASING BACKLOG TO A RECORD SAR 18 BILLION
Arabian Drilling announces signing of new four years contract with Khafji Joint Operations (KJO) for the provision of four high-specification offshore jack-up drilling rigs to support KJO's offshore drilling operations.
Date of Announcement of the Award
2026-09-28 Corresponding to 1448-04-17
Contract Subject Matter
Signing of new four years contract with Khafji Joint Operations (KJO) for the provision of four high-specification offshore jack-up drilling rigs to support KJO's offshore drilling operations..
The Entity with Which the Contract was Signed
Khafji Joint Operations (KJO)
Date of Signing the Contract
2026-09-28 Corresponding to 1448-04-17
Contract Value
Approximately SAR 2 billion.
Contract Details
This four-year contract represents the largest single offshore drilling contract awarded by KJO to the Company for the provision of four high-specification offshore jack-up drilling rigs to support KJO's offshore drilling operations. The award increases Arabian Drilling's total backlog to approximately SAR 18 billion and expands the Company's offshore fleet operating under contracts with KJO, representing a 200% increase in its drilling rig fleet serving KJO.
Contract Duration
Four (4) years.
Financial Impact and the Relevant Period
The financial impact commencing at the end of the fourth quarter of 2026.
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