29 January, 2020
The signing of two contracts with International Maritime Industries ("IMI")
We are pleased to announce the signing of two contracts with International Maritime Industries ("IMI") for the construction of two LETOURNEAU™ Super 116E Class offshore jack-up drilling units.
The delivery of the first rig is expected in Q1 2022 and the second rig will be in Q2 2022. Following delivery, each rig is expected to have an 8-year commitment with Saudi Aramco for operations in Saudi Arabia followed by, subject to certain conditions, additional commitments of up to a combined 8-years.
Our CEO Mr.Kelly McHenry stated: "ARO is fully committed to Saudi Arabia's Vision 2030 and, more specifically, to the transformation of in-Kingdom companies into best-in-class drillers and manufacturers. The rig construction project is a significant step toward achieving this transformation."