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Rowan wins Saudi Aramco rigs contract

Aug 01, 2018
2 min read
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Rowan Companies said its jack-up rigs joint-venture ARO Drilling was awarded six three-year contracts by Saudi Aramco for Rowan rigs currently operating in Saudi Arabia.

These new contracts will commence upon completion of the rigs' existing contracts later this year, the company said in a statement.

ARO Drilling is an equally owned joint venture between Rowan and Saudi Aramco.

Tom Burke, president and chief executive officer, 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 eighteen years of jack-up backlog.”

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 fulfill these new drilling contracts.

The Scooter Yeargain and Hank Boswell, which as previously announced will be sold to ARO Drilling in October, will immediately commence their new drilling contracts upon the rig ownership transfer to the joint venture.

Rowan is a global provider of contract drilling services with a fleet of 27 mobile offshore drilling units, composed of 23 self-elevating jack-up rigs and four ultra-deepwater drillships.

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