Rowan gets 3-year drilling contract in Saudi Arabia
Posted: 26 February 2008
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Rowan Companies, Inc. reported that its Tarzan Class jack-up, Bob Keller, has been awarded a term drilling contract for work offshore Saudi Arabia.
The contract provides for a three-year term, over which the company expects total revenues of approximately $201 million, and contains an option for a fourth year. The Bob Keller recently concluded work in the Gulf of Mexico and is en route to the Middle East. The rig is expected to commence drilling operations during the second quarter of 2008.
“We are pleased to grow our relationship with Saudi Aramco and again want to thank Rawabi Trading & Contracting Co. Ltd. for their continuing assistance,” said Danny McNease, Rowan Chairman and Chief Executive Officer.
Rowan’s Tarzan Class rigs, in particular, have demonstrated drilling capabilities that are well-suited to this environment, and all three of these rigs will soon be working offshore Saudi Arabia. We are confident that the Middle East market will require more quality drilling equipment in the future, and look forward to further opportunities for Rowan.
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