Rowan Companies has announced that ARO Drilling was awarded six three-year contracts by Saudi Aramco for Rowan jackup rigs currently operating in Saudi Arabia. These new contracts will commence upon completion of the rigs’ existing contracts later this year.
Tom Burke, President and Chief Executive Officer, commented, “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 18 years of jackup backlog. We believe these six three-year contract awards, and the five three-year contracts awarded earlier this year, continue to demonstrate the value ARO Drilling will create over the coming years.”
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.