Arabian Drilling, the largest drilling contractor in the Saudi kingdom, announced the renewal of its offshore contract with Khafji Joint Operations (KJO), extending the commercial relationship for an additional three years. This extension will directly impact the company’s order book, increasing its projected revenue by 8% to 12% by 2024.
Offshore contract boosts Arabian Drilling’s expansion
Based in the city of Khafji, KJO, a joint venture between Aramco Gulf Operations Company and Kuwait Gulf Oil Company, maintains key operations in the Neutral Zone, a strategic region shared by Saudi Arabia and Kuwait. The decision to extend the contract strengthens Arabian Drilling’s role as an essential provider of offshore drilling servicesThe decision to extend the contract reinforces Arabian Drilling’s role as an essential provider of offshore drilling services, cementing decades of collaboration with its first customer since 1964.
The Saudi company also indicated that 19 platforms in its fleet have contracts that expire in 2025. Currently, six of these contracts have already been renewed, while negotiations are underway to ensure the operational continuity of the remaining platforms.
Six decades of trust and quality
Arabian Drilling CEO Ghassan Mirdad expressed the significance of this extension by highlighting the trust KJO has placed in his team for more than six decades. This historic relationship reflects the commitment of Arabian Drilling to maintaining high quality standards in its offshore offshore serviceseven under the demanding conditions of the Gulf.
Finally, Arabian Drilling continues to implement sustainable practices aligned with Saudi Arabia’s Vision 2030, integrating efficiency and safety into its operations while contributing to regional energy development.
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Source and photo: Arabian Drilling
