Saudi
Aramco’s drilling and workover program (D&WO) recently signed two new joint drilling ventures (JVs) with Nabor and Rowan, marking a major
turning point for the Saudi company.
“Our
strategy looks to leverage the scale of our drilling activities to create two
national champions that will enable the development of a dynamic energy
sector,” AbdulHameed A. Al Rushaid, executive director of D&WO, said. “The drilling JVs are anchor projects that grew out of Saudi
Aramco’s upstream oil field services and equipment industry strategy which
supports the wider development and localization of industries such as rig and
rig equipment manufacturing and casting and forging, as well as the maritime
manufacturing complex.”
The company
has an onshore JV with Nabors and an offshore JV with Rowan. Both platforms
are projected to be fully operational in the coming months. Saudi Aramco hopes to
utilize the JVs to gain critical business advantages to secure its position as
a global leader in energy.
“This
strategy is a major milestone and a step change in the way we do business in
Saudi Arabia,” Al Rushaid said. “We want to create a national drilling champion
to meet the ever-increasing demand for the company’s upstream drilling
activities. We also want to sustain the company’s position as a global leader
and as the most reliable supplier of energy.”
