Saudi Aramco has awarded ARO Drilling, its offshore rig contracting joint venture (JV) with US contractor Rowan, six three-year contracts for Rowan jack-up rigs currently operating offshore Saudi Arabia.
These new contracts will be effective upon completion of the rigs' existing contracts later this year, Rowan said in a statement.
The ‘Rowan Middletown’, ‘Charles Rowan’, and ‘Arch Rowan’ are expected to be leased to ARO Drilling in September, and the ‘Rowan Mississippi’ is expected to be leased to ARO Drilling in December to fulfil these new drilling contracts.
‘The Scooter Yeargain’ and ‘Hank Boswell’, which will be sold to ARO Drilling in October, will immediately commence their new drilling contracts upon the rig ownership transfer to the JV.
Aramco in March had signed an offshore drilling services contract with Rowan during Saudi Crown Prince Mohammed bin Salman’s tour of the US.
Aramco and Rowan formed ARO Drilling to own, operate and manage offshore drilling rigs in Saudi Arabia.
The 50:50 JV started operations in October last year.
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