Rowan Companies announced today that ARO Drilling, its joint venture with Saudi Aramco, was awarded six three-year contracts by Saudi Aramco for Rowan jack-up 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 eighteen years of jack-up 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.

 

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. The company's fleet operates worldwide, including the Gulf of Mexico in the US, the United Kingdom and Norwegian sectors of the North Sea, the Middle East, and Trinidad. 

 

Additionally, the company is a 50/50 partner in a joint venture with Saudi Aramco, entitled ARO Drilling, that owns a fleet of five self-elevating jack-up rigs that operate in the Arabian Gulf.  - TradeArabia News Service