Arabian Drilling, Saudi Arabia’s largest onshore and offshore drilling contractor by fleet size, has added a new self-elevating service vessel to its fleet.
The service vessel, which was acquired for a value of approximatively SAR260 million ($70 million) including shipyard modifications and mobilisation, is expected to start operations by mid-year for a two-year contract.
The associated backlog, which exceeds SAR170 million, will be added into the company’s backlog position. With this latest addition, Arabian Drilling’s total fleet now boasts 62 units, comprised of 49 land rigs, 11 offshore jack-up rigs, and two offshore self-elevating service vessels.
Arabian Drilling currently operates one service vessel in the Arabian Gulf.
"We are pleased to announce adding a new self-elevating service vessel in response to the increasing regional demand for servicing oil and gas offshore wells," commented Ghassan Mirdad, Chief Executive Officer of Arabian Drilling.
"By acquiring an additional service vessel, we are broadening our presence in this adjacent sector. This new acquisition is a testament to our commitment to executing our strategy to diversify revenue streams.”