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August 2, 2018

ARO Drilling secures six drilling contracts in Saudi Arabia

ARO Drilling, a joint venture (JV) of Saudi Aramco and Rowan Companies, has secured six three-year drilling contracts for Rowan jack-up rigs in Saudi Arabia.

ARO Drilling, a joint venture (JV) of Saudi Aramco and Rowan Companies, has secured six three-year Saudi Arabian drilling contracts for Rowan jack-up rigs.

The contracts are offered by Saudi Aramco and will commence following the completion of existing contracts of the rigs later this year.

Under the contracts, ARO Drilling will lease the Rowan Middletown, Charles Rowan and Arch Rowan rigs next month followed by the lease of Rowan Mississippi rig in December this year.

Rowan Companies president and CEO Tom Burke said: “Our partnership with Saudi Aramco in ARO Drilling and our operational track record in the Middle East have paved the way for this award of 18 years of jack-up backlog.

"We believe these six three-year contract awards, and the five three-year contracts awarded earlier this year, continue to demonstrate the value ARO Drilling will create over the coming years."

“We believe these six three-year contract awards, and the five three-year contracts awarded earlier this year, continue to demonstrate the value ARO Drilling will create over the coming years.”

In addition, the Saudi Arabian drilling contracts cover the acquisition of Scooter Yeargain and Hank Boswell rigs by ARO Drilling in October this year.

Following the transfer of ownership to the JV, ARO Drilling will implement the new drilling contracts.

In April this year, ARO secured four three-year drilling contracts to lease idle jack-up rigs from Rowan. The contract covers the EXL I, EXL IV, Bess Brants and Earnest Dees rigs.

Based in the US, Rowan offers contract drilling services through a fleet of 27 mobile offshore drilling units including 23 self-elevating jack-up rigs and four ultra-deepwater drillships.

ARO Drilling currently owns a fleet of five self-elevating jack-up rigs in the Arabian Gulf.

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