Arabian Drilling extends its long-term partnership with Saudi Aramco.

Arabian Drilling Company, the largest national company in the field of onshore and offshore drilling within the Kingdom of Saudi Arabia, announced the extension of a long-term contract for a land drilling rig working for Saudi Arabian Oil Company, Aramco.

In a disclosure to the Saudi Stock Exchange (Tadawul), published on Monday, Arabian Drilling stated that it will extend the contract with Aramco for ten years, starting immediately after the current contract ends in the last quarter of 2024, with a total contract value of 440 million Saudi riyals.

As of the close of trading in Saudi Arabia on Monday, the price of Arabian Drilling's share (TADAWUL: 2381) stabilized at 116.2 riyals, reflecting an increase of approximately 2.11%.