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Description

ARO Drilling is a world-class offshore drilling contractor that owns, operates, and manages a fleet of high-specification and premium jack-up rigs in Saudi Arabia. ARO Drilling is a joint venture between Saudi Aramco, the world's largest oil and gas company, and Valaris Companies, an industry-leading, global drilling contractor. This joint venture marks a major milestone towards the development of a competitive Saudi energy sector, as encapsulated in Saudi Aramco's In-Kingdom Total Value Add (iktva) program and Saudi Vision 2030. Saudi Aramco and Valaris Companies have worked together continuously in the Saudi Arabian market since 2006, and this strengthened partnership will ensure increased collaboration between the partners, increased efficiency of drilling operations, improved localization of the drilling industry in Saudi Arabia, and best-in-class drilling performance. The offshore drilling market in Saudi Arabia is expected to expand, creating considerable demand for drilling services. We are committed to purchasing up to 20 newbuild jack-up rigs over 10 years, taking delivery of the first rig as early as 2022, in order to meet Saudi Aramco's offshore drilling requirements in the Kingdom. For more information on our shareholders: https://www.valaris.com https://www.saudiaramco.com