ARO Drilling Orders Two Super 116E Jack-Up Units from International Maritime Industries

Source Press Release
Company Saudi Aramco 
Tags Asset Deals, Deals, Oil Services
Date January 19, 2020

ARO Drilling, a 50/50 joint venture between Saudi Arabian Oil Company ("Saudi Aramco") and Valaris plc, announced today its signing of two contracts with International Maritime Industries ("IMI") for the construction of two LETOURNEAU™ Super 116E Class offshore jack-up drilling units. Delivery of the first rig is expected in Q1 2022 and the second rig in Q2 2022. Following delivery, each rig is expected to have an 8-year commitment with  Saudi Aramco for operations in Saudi Arabia followed by, subject to certain conditions, additional commitments of up to a combined 8-years.

Kelly McHenry, CEO of ARO Drilling, stated: "ARO is fully committed to Saudi Arabia's Vision 2030 and, more specifically, to the transformation of in-Kingdom companies into best-in-class drillers and manufacturers. The rig construction project is a significant step toward achieving this transformation."

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd