Saudi Aramco reported that two joint ventures with drilling companies will become “fully operational” within a few months.
Saudi Aramco will have 50% ownership in both JVs that will own, operate, and manage rigs. One is for onshore drilling with Nabors Industries Ltd. and one is for offshore drilling with Rowan Cos. PLC (OGJ Online, Oct. 31, 2016; Nov. 21, 2016).
In the short term, the JV rigs will operate in Saudi Arabia.
“And in the long term, we can begin to see these two companies as regional and international drilling companies that make Saudi Arabia a hub for energy services,” said AbdulHameed A. Al Rushaid, executive director of drilling and workover (D&WO) for Aramco.
Saudi Aramco said it is promoting “local content” by creating demand for new drilling rigs built in Saudi Arabia by Saudi Aramco’s manufacturing joint ventures.