Aramco lets contract for Tarzan-class rig

Feb. 27, 2008
Saudi Aramco has let a 3-year drilling contract to Rowan Cos. Inc. for offshore work starting in the second quarter.

Uchenna Izundu
International Editor

LONDON, Feb. 27 -- Saudi Aramco has let a 3-year drilling contract to Rowan Cos. Inc. for offshore work starting in the second quarter.

Bob Keller, a Tarzan-class jack up rig, is now en route to the Middle East. Rowan expects total revenues of $201 million from the contract, which has an option to be extended another year.

The contract expands Rowan's presence in the Middle East to nine jack ups, Chairman and Chief Executive Officer Danny McNease said. "Our 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."

Contact Uchenna Izundu at [email protected].