Riyadh – Mubasher: Arabian Drilling signed, on 13 January, three contract extensions for land rigs with a total value of SAR 1.40 billion, adding 25 rig years to its backlog.
One rig is currently operational, and another is expected to be operational by the end of January, according to a press release.
Meanwhile, the third rig is suspended and expected to resume operations during 2026.
Along with the four most recent contract extensions announced on 17 November 2025, Arabian Drilling has now secured a total of seven contract extensions. These agreements amount to SAR 3.40 billion and represent 55 committed rig years.
Ghassan Mirdad, CEO of Arabian Drilling, commented: “These achievements, along with the recent to operational excellence as we continue to support the Kingdom’s energy ambitions.”
With the recent notice of resumption of operations for rigs in 2025, coupled with starting the first international contract in the GCC region, Arabian Drilling projects 100% offshore utilization by the second quarter (Q2) of 2026, with total fleet utilization rising to 80% from 73.80% in Q3-25
