# 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.

- Type: Contract
- Announced: 2020-01-22
- Where: Saudi Arabia
- Value: $350.0M
- Status: announced
- Products: jack-up drilling rigs
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [ARO Drilling](https://endata.com/companies/33446.md)
- [Saudi Aramco](https://endata.com/companies/304.md) (partner)
- [Valaris](https://endata.com/companies/11408.md) (partner)
- [International Maritime Industries](https://endata.com/companies/44631.md) (supplier)

## Sources

- [offshore-technology.com](https://www.offshore-technology.com/news/valaris-saudi-aramco-orders-rigs/), 2020-01-22: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.