Thursday, May 23, 2024
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Saudi Aramco Evaluating the Operating Plans for its Promote

RIYADH: Energy giant Saudi Aramco is reportedly revising its operational plans as it talks with drilling companies about pausing its offshore operations for a year.

The leading national contractor in the Kingdom, Arabian Drilling, announced to Tadawul that it is in ongoing talks with Aramco about putting the contracts for three offshore rigs on hold.

The corporation also stated that the stops may last a full year. It promised to provide a market update following the conclusion of the discussions, pointing out that the affected rigs and the timeframe of the suspensions have not yet been verified.

ADES added that one of the suspended rigs will be used for the company’s recently purchased project in Thailand, which is expected to start production in the second half of 2024. A second installation is also planned for future opportunities, promising to issue a market update once the discussions conclude in the area.

According to ADES, the temporary suspensions will start seven days after the mutually agreed-upon break notice is signed or, if that happens later, when the drilling unit is released and the remaining work is finished.

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Thursday, May 23, 2024

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