Arabian Drilling, described as Saudi Arabia’s largest onshore and offshore drilling contractor by fleet size, has secured a major four-year contract win with Khafji Joint Operations (KJO), a joint venture between Saudi Aramco’s subsidiary and Kuwait Petroleum Corporation’s subsidiary, driving corporate backlog to new heights.
Arabian Drilling has pushed its total order backlog to $4.8 billion (SAR 18 billion), bolstered by a four-rig contract award from Khafji Joint Operations worth approximately $533 million (SAR 2 billion).
The rig owner will provide four high-specification offshore jack-up drilling rigs to support KJO's offshore drilling operations, which will contribute to its revenues and financial results commencing at the end of the fourth quarter of 2026.
The latest contract represents a significant strategic milestone for Arabian Drilling and further strengthens the firm's position in the Kingdom of Saudi Arabia's offshore drilling market.
The drilling player also emphasizes that this deal is the largest single offshore drilling contract it got from KJO and expands its offshore fleet operating under contracts with the joint venture, representing a 200% increase in the company's drilling rig fleet serving the JV.
Fahad Albani, Chief Executive Officer of Arabian Drilling, commented: “As the largest single offshore drilling contract awarded by KJO to the company, it reflects the strength of our partnership and our proven ability to deliver reliable, resilient and efficient operations at scale.
“The contract raises our backlog to record of SAR 18 billion, significantly enhances future revenue and further strengthens the quality and resilience of our earnings profile. This milestone positions Arabian Drilling to capture long-term offshore growth opportunities while creating sustainable value for our shareholders.”
Arabian Drilling recently won multiple deals, including a contract with Masirah Oil and Northern Offshore in August 2026 to drill two firm wells, in addition to two optional wells, in Oman.