Arabian Drilling has secured three land rig contract extensions in Saudi Arabia worth USD 373 million, extending its backlog by 25 rig years, the company announced on Tuesday.
Of the rigs subject to extensions, one is currently operational, and another is projected to begin operations by the end of January 2026. A third is currently under a suspended contract and set to resume work later in 2026. Two of the contracts have durations of 10 years, with the third being for five years.
The new engagements follow four contract extensions announced by Arabian Drilling in November 2025 and bring the company’s total number of contract extensions to seven. Together, they are valued at around USD 907 million and represent 55 committed rig years.
“We are proud to announce the extension of three long-term contracts for our land rigs, further strengthening Arabian Drilling’s partnership with our customers and reinforcing our position as Saudi Arabia’s leading drilling contractor,” said Arabian Drilling CEO Ghassan Mirdad.
The company also noted it plans to begin its first international offshore contract – signed in July 2025 with an unnamed client – and is expecting 100% utilisation of its offshore fleet by Q2 2026. The result would bring total fleet utilisation to 80%, up from 73.8% in Q3 2025.
Arabian Drilling is Saudi Arabia’s largest drilling contractor by fleet size. The company is listed on the Saudi Stock Exchange and operates mainly within Saudi Arabia.