ARO Drilling orders two jack-up rigs from IMI for $350M

ARO Drilling, a joint venture between Valaris and Saudi Aramco, has ordered two newbuild jack-up rigs from International Maritime Industries at approximately $175 million each. Each rig is expected to commence an eight-year contract with Saudi Aramco upon delivery.

“Upon delivery, each rig is expected to commence an eight-year contract with Saudi Aramco and operate at a day rate determined by a six-year EBITDA payback.”offshore-technology.com

• 1 source
• offshore-technology.comValaris, Saudi Aramco JV orders newbuild jack-up rigsHimaja GantaJan 22, 2020

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