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Saudi Aramco Drilling Co Seen Starting Commercial Operations in Q3

Source: Times of India 7/13/2017, Location: Middle East

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The Saudi Aramco Nabors Drilling Co (SANAD) joint venture is expected to start commercial operations in the third quarter of this year, Saudi Aramco said in its weekly magazine, the Arabian Sun. *Saudi Aramco said SANAD recently held its first board meeting in Dhahran.

*SANAD is a 50:50 joint venture between Saudi Aramco and Nabors to own, operate and manage onshore drilling rigs in Saudi Arabia.

*SANAD is one of the largest joint ventures to have been formed in Saudi Arabia to date, Saudi Aramco says.

*Over the next five years more than 5,000 people are expected to be hired with a "Saudization" rate of 80 percent. *SANAD committed to using land rigs in future manufactured in Saudi Arabia.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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