Saudi oil firm Aramco inks joint ventures with Nabors, Rowan

By The Associated Press


RIYADH, Saudi Arabia (AP) — Saudi Arabia's state oil company is setting up joint ventures with two international drilling companies as part of an effort to boost economic development in the kingdom.

Saudi Aramco says the deals signed on Wednesday with Nabors Industries and Rowan Companies will focus on onshore and offshore drilling.

The joint ventures will include Nabors' existing Saudi onshore and Rowan's existing offshore operations.

The companies did not provide financial terms for the partnerships, but said they will ultimately invest $6 billion to $7 billion to buy drilling rigs made in Saudi Arabia.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs