RIYADH: Arabian Drilling has won multiple contracts worth SR3 billion ($799 million) from Saudi Aramco to supply 10 new land rigs for the oil major’s unconventional gas program in the Kingdom. In a bourse filing, the Saudi onshore and offshore drilling firm said that all 10 new units will be added to the company’s current land rig fleet of 38 units, representing an increase of 26 percent. Arabian Drilling said the five-year deal is expected to contribute to the company’s revenue from the second quarter of 2024. Ghassan Mirdad, CEO of Arabian Drilling, said: “We are delighted with Aramco’s trust in awarding Arabian Drilling these multiple contracts, providing us with the opportunity to establish our footprint in the Unconventional Program. This award fits perfectly with our growth strategy execution and we have strengthened the company’s balance sheet precisely to be able to support growth capex opportunities like this one.” Arabian Drilling said the five-year deal is expected to contribute to the company’s revenue from the second quarter of 2024. “We continue to see a positive outlook in the market and pursue our growth strategy in the Kingdom, while remaining focused on achieving the highest health, safety and environment standards across our operation,” added Mirdad. As part of the Kingdom’s efforts to diversify local energy resources, Saudi Aramco’s unconventional program aims to develop these resources to fuel growing demand and enrich the larger energy industry landscape, according to its website. Unconventional fields are considered to be a potentially significant future source of long-term hydrocarbon production. However, it said that developing unconventional resources requires logistics that differ from those of standard conventional gas. In October last year, Saudi Aramco launched Arabian Rig Manufacturing, a joint venture firm with American entity NOV, to manufacture drilling rigs and related equipment for the first time in the Kingdom, according to a statement released at the time. Located at Ras Al-Khair, the new facility is expected to reduce dependence on imported products in one of the largest oil-producing nations. The joint venture is part of Saudi Aramco’s ongoing efforts to localize rig manufacturing, in line with the Kingdom’s Vision 2030 and the In Kingdom Total Value Add program.