Arabian Drilling signs four-year contract with Khafji Joint Operations for four jack-up drilling rigs

Type: Supply Agreement · Technology: Oil Gas · Country: Saudi Arabia · Value: $533M · Announced: 2026-09-29

Arabian Drilling signed a four-year contract on 29 September 2026 with Khafji Joint Operations to provide four high-specification offshore jack-up drilling rigs for KJO's offshore drilling operations, in a deal valued at about $533 million (SAR 2 billion). The agreement will begin providing financial contribution to Arabian Drilling at the end of Q4 2026 and will expand Arabian Drilling's rig assignments serving KJO by 200%. Arabian Drilling said the award increases its total backlog to a record about $4.8 billion (SAR 18 billion). The contract supports offshore drilling activity tied to KJO and adds to Arabian Drilling's portfolio of onshore and offshore drilling services for customers including Saudi Aramco, SLB and Baker Hughes. No project-specific capacity (MW) or delivery schedule beyond the four-year term was disclosed in the article.

Analysis

Arabian Drilling signed a four‑year contract on 29 September 2026 with Khafji Joint Operations to supply four high‑specification offshore jack‑up drilling rigs for about $533 million (SAR 2 billion). Arabian Drilling said the award increases its total backlog to a record about $4.8 billion (SAR 18 billion). The contract will begin providing financial contribution to Arabian Drilling at the end of Q4 2026 and will expand its rig assignments serving KJO by 200%.

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