Riyadh – Mubasher: Arabian Drilling secured four rig contract renewals with a total value exceeding SAR 2 billion and an additional 30 committed rig years to the company's active backlog.
This brings the group’s total backlog to SAR 12.20 billion by the end of 2025, marking a lifetime record in the company’s 61-year history, according to a press release.
With these contract renewals, Arabian Drilling has finalized all planned rig contract extensions for 2025.
Among these four renewals, two contracts are for rigs whose terms were to expire in 2026. Three of the four contracts are part of the recently announced resumptions, while one is currently active.
Meanwhile, the financial impact of these contracts is expected to materialize upon deployment during the first quarter (Q1) of 2026.
Signed with Saudi Aramco, the deals hold a tenor from five to 20 years. The two entities previously partnered for the expansion of four rigs valued at SAR 1.37 billion.
Ghassan Mirdad, CEO of Arabian Drilling, commented: "This achievement demonstrates the dedication of our team to deliver high-quality, reliable services that drive long-term value for our partners and stakeholders. We remain focused on advancing innovation, safety, and sustainability across our operations as we continue to add value to our shareholders."
The Tadawul-listed company looks forward to further strengthening its leadership position in Saudi Arabia while expanding its footprint both regionally and internationally.
In July, the group announced its first international contract and is actively pursuing additional global opportunities to achieve its goal and establish itself as a leading player in the global drilling market.
Arabian Drilling recently disclosed its financials for the nine-month period that ended on 30 September 2025, recording net profits valued at SAR 73.30 million.
