Today, Wednesday, the Arabian Drilling Company announced the signing of a new contract with Saudi Aramco, worth more than 650 million riyals, for a period of 5 years, for an offshore drilling rig.
And “Arabian Drilling” declared in a statement on “Saudi Arabia’s Tadawul” who, according to the contract, will provide an offshore drilling platform with all its crew and associated equipment to perform well drilling work and provide necessary services in the United offshore fields.
He added that the contract should enter in effective in the third quarter of fiscal 2023.
The financial impact of this contract is expected to be reflected in “Arabian Drilling” increasing revenues in the third quarter of fiscal year 2023.
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