State-run Saudi Aramco has signed deals to set up joint ventures with US-based Rowan Companies and Nabors Industries to own, manage, and operate drilling rigs in the kingdom in a bid to bolster its flagship localization initiative.
Rowan Companies and the Saudi Arabian Oil Company (Saudi Aramco) have signed, through their subsidiaries, an agreement to create a 50/50 joint venture to own, operate, and manage offshore drilling rigs in Saudi Arabia.
The new joi
Shallow-water oil rig contractor Rowan Cos is bidding on 11 drilling opportunities in Saudi Arabia, chief executive Matt Ralls said, as the world's top oil exporter seeks to expand its drilling.
Saudi Arabia aims to incr