Arabian Drilling secures three-year extension with KJO

Arabian Drilling signed a three-year offshore contract extension with Khafji Joint Operations (KJO) with a total backlog addition ranging from 8-12% of the company’s 2024 revenue. This contract extension is in direct continuation of the existing contract and is effective as of 14 July.

KJO is a joint venture between Aramco Gulf Operations Company and Kuwait Gulf Oil Company located in Khafji, Saudi Arabia, and covering oil and gas operations in the Neutral Zone.

Looking at the total fleet as of 31 March 2025, 19 rigs had contracts set to expire within the year. Of these, contracts for six rigs have already been renewed. The company is actively continuing negotiations with its clients to secure the renewal of the remaining rigs.