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Saudi Aramco Extends $800 Mn Contracts for Arabian Drilling

A drilling rig belonging to Arabian Drilling (Arabian Drilling's website)
A drilling rig belonging to Arabian Drilling (Arabian Drilling's website)
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Saudi Aramco Extends $800 Mn Contracts for Arabian Drilling

A drilling rig belonging to Arabian Drilling (Arabian Drilling's website)
A drilling rig belonging to Arabian Drilling (Arabian Drilling's website)

Saudi Aramco extended several contracts worth close to $800 million with the Arabian Drilling Company (ADC) that were due to expire in 2023.

The contracts have been extended from three to ten years, the company said in a statement.

The company noted that the financial impact of this extension is expected to be reflected in the results of the third quarter of the fiscal year 2023.

The Arabian Drilling, listed on Tadawul, specializes in onshore and offshore drilling activities in the Kingdom.

It announced in July that it had signed long-term contracts with Aramco to provide it with ten new-build land rigs with full crews to conduct drilling and exploration operations within Aramco's unconventional program.

The ADC signed a similar contract with the Saudi oil giant in January for five years to provide it with one offshore drilling platform exceeding SR650 million.

The company's profits grew 36 percent in the first half of this year to reach SR282 million, after it increased by 23 percent in the second quarter to SR140 million.

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Saudi Arabia Makes Significant Progress in 2025 International IP Index

The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)
The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)
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Saudi Arabia Makes Significant Progress in 2025 International IP Index

The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)
The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. (SPA)

Saudi Arabia made significant progress in the 13th edition of the US Chamber of Commerce's International IP Index, recording a 17.55% increase in its overall score and ranking among the top countries for progress out of 55 global economies.

This milestone highlights the Kingdom's commitment to strengthening its intellectual property ecosystem and fostering innovation in line with the goals of Vision 2030.

The report highlighted a series of advancements in Saudi Arabia’s legislative and regulatory framework for intellectual property. Key developments included extending the term of design protection to 15 years, establishing a dedicated prosecution office for IP offenses, and strengthening the electronic enforcement of copyrights and trademarks.

These efforts contributed to raising the Kingdom’s overall score from 36.6% in 2019 to 53.7% in 2025—a cumulative increase of more than 40% over six years.

This progress reflects the efforts of the Saudi Authority for Intellectual Property, in collaboration with relevant entities, to build an integrated system that enhances investor and innovator confidence.

It also reaffirms the Kingdom’s growing position as a regional hub for the creative and knowledge-based economy.