| Element List | Explanation |
|---|---|
| Introduction | Arabian Drilling Signs Four Contract Renewals Totaling Over SAR 2 billion |
| Date of Announcement of the Award | 2025-11-17 Corresponding to 1447-05-26 |
| Contract Subject Matter | Arabian Drilling Signs Four Contract Renewals Totaling Over SAR 2 billion Backlog at Lifetime Record of SAR 12.2 Bn by End of 2025 |
| The Entity with Which the Contract was Signed | Saudi Aramco |
| Date of Signing the Contract | 2025-11-17 Corresponding to 1447-05-26 |
| Contract Value | Exceeding SAR 2 billion |
| Contract Details | Arabian Drilling announced securing 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 increment brings Arabian Drilling’s total backlog to SAR 12.2 billion by the end of 2025, marking a lifetime record in the company’s 61-year history. With these contract renewals, Arabian Drilling has finalized all planned rig contract extensions for 2025. Notably, 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. The financial impact of these contracts is expected to materialize upon deployment during the first quarter of 2026. This development underscores Arabian Drilling’s position as a leading entity within the Saudi drilling sector and reaffirms its commitment to delivering reliable and high-quality drilling services. |
| Contract Duration | From Five to Ten Years |
| Financial Impact and the Relevant Period | The contribution to Company revenue will start in Q1 2026 |
| Related Parties | Not Applicable |
| Additional Information | Not Applicable |
| Attached Documents | Attached Documents |
