International Maritime Industries (IMI) has signed two contracts with ARO Drilling for the construction of two LETOURNEAU Super 116E Class offshore jack-up drilling rigs in Saudi Arabia.
A joint venture (JV) of Saudi Aramco and Valaris Companies, ARO Drilling is an offshore drilling contractor that owns, operates, and manages a fleet of high-specification and premium jack-up rigs in Saudi Arabia.
IMI said that the delivery of the first rig is estimated in the first quarter of 2022, while the second rig will be in the second quarter of the same year.
ARO Drilling CEO Kelly McHenry said: “ARO is committed to increasing our presence in the region and we are pleased to reach agreements that will enable us to use local manufacturing capabilities to support our fleet growth objectives.
“Through these purchase agreements, ARO will acquire two state-of-the-art jack-ups and we look forward to partnering with IMI on the delivery of these rigs.”
After the delivery, each rig is estimated to get an eight-year commitment with Saudi Aramco for operations in Saudi Arabia.
Additionally, IMI has also signed a subsequent sub-contract agreement with long-term partners Lamprell Energy (LEL) for the construction of two Keppel LeTourneau Super 116E jack-up drilling rigs.
IMI is situated in The King Salman Complex for International Maritime Industries & Services at Ras Al-Khair, Saudi Arabia.
Upon completion, the facility is expected to have an the annual capacity of four newly constructed offshore rigs and more than 43 newly constructed vessels along with very large crude carrier (VLCCs), in addition to servicing over 260 maritime products.
With production operations estimated to begin in the end of this year, the facility is expected to be fully operational by 2022.
In September last year, IMI had signed a Vessel Purchase Agreement (VPA) with Bahri along with a subsequent sub-contract agreement with long-term partners Hyundai Heavy Industries (HHI) for the construction of one 319,000 DWT Class Crude Oil Carrier.
Source: NS Energy
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