ARO Drilling Awarded Four Contracts from Saudi Aramco for Rowan Jack-ups
Monday 30 April 2018
Rowan Companies plc expects that four of its idle jack-ups will be leased to ARO Drilling to fulfill four three-year contracts that ARO Drilling has been awarded by Saudi Aramco.
ARO Drilling will lease the EXL I, EXL IV, Bess Brants and Earnest Dees (formerly named P-59 and P-60, respectively) from Rowan through a bareboat charter lease mechanism. The estimated commencement of the contracts is during the third quarter 2018 for the EXL I and EXL IV, and late 2018 or early 2019 timeframe for the Bess Brants and Earnest Dees. The jack-up rigs are currently being mobilized to the Middle East from Brazil. The two rigs departed Brazil onboard the Dockwise Mighty Servant 1 heavy lift vessel on April 28 and are expected to arrive in Dubai in June 2018. Rowan will prepare the rigs for operations, including all contractually required modifications, and then lease the rigs to ARO Drilling who will operate the rigs in Saudi Arabia. The contracts for the four rigs have been awarded and are in the process of being finalized.