$533 million lands on Arabian Drilling’s backlog for rig quartet deal

Arabian Drilling's backlog has surged to nearly $5 billion after a four-rig award from the Aramco-Kuwait Petroleum Corporation joint venture (JV).

Arabian Drilling's backlog has surged to nearly $5 billion after a four-rig award from the Aramco-Kuwait Petroleum Corporation joint venture (JV).

2 minutes read LinkedIn X Email Illustration Source: Arabian Drilling Arabian Drilling, described as Saudi Arabia’s largest onshore and offshore drilling contractor by fleet size, has secured a major four-year contract win with Khafji Joint Operations (KJO), a joint venture between Saudi Aramco’s subsidiary and Kuwait Petroleum Corporation’s subsidiary, driving corporate backlog to new heights.

Arabian Drilling has pushed its total order backlog to $4.8 billion (SAR 18 billion), bolstered by a four-rig contract award from Khafji Joint Operations worth approximately $533 million (SAR 2 billion).

The rig owner will provide four high-specification offshore jack-up drilling rigs to support KJO's offshore drilling operations, which will contribute to its revenues and financial results commencing at the end of the fourth quarter of 2026.

The latest contract represents a significant strategic milestone for Arabian Drilling and further strengthens the firm's position in the Kingdom of Saudi Arabia's offshore drilling market.

The drilling player also emphasizes that this deal is the largest single offshore drilling contract it got from KJO and expands its offshore fleet operating under contracts with the joint venture, representing a 200% increase in the company's drilling rig fleet serving the JV.

Arabian Drilling's backlog has surged to nearly $5 billion after a four-rig award from the Aramco-Kuwait Petroleum Corporation joint venture (JV).

2 minutes read LinkedIn X Email Illustration Source: Arabian Drilling Arabian Drilling, described as Saudi Arabia’s largest onshore and offshore drilling contractor by fleet size, has secured a major four-year contract win with Khafji Joint Operations (KJO), a joint venture between Saudi Aramco’s subsidiary and Kuwait Petroleum Corporation’s subsidiary, driving corporate backlog to new heights.

Arabian Drilling has pushed its total order backlog to $4.8 billion (SAR 18 billion), bolstered by a four-rig contract award from Khafji Joint Operations worth approximately $533 million (SAR 2 billion).

The rig owner will provide four high-specification offshore jack-up drilling rigs to support KJO's offshore drilling operations, which will contribute to its revenues and financial results commencing at the end of the fourth quarter of 2026.

The latest contract represents a significant strategic milestone for Arabian Drilling and further strengthens the firm's position in the Kingdom of Saudi Arabia's offshore drilling market.