Together the joint ventures are envisaged investing between $6 billion and $7 billion in new drilling tonnage in the future.

Both the onshore rig joint venture with Nabors and jack-up pact with Rowan were revealed in the past few weeks, with Aramco saying this week they have been finalised.

The Saudi state player said they are expected to create 5000 new jobs, some 80% of which will be for locals.

The