Saudi Aramco has awarded contracts for the charter of up to 10 onshore drilling rigs to compatriot Arabian Drilling Company for work on a sizeable unconventional programme.

Arabian Drilling on Monday said that the “contract’s firm term duration (excluding options) is five years with estimated aggregate contracts value representing over 3 billion Saudi riyals ($799.7 million)".

“These 10 contract awards are for additional land rigs assigned to Aramco’s unconventional programme,” read Arabian Drilling's statement to the local Tadawul stock exchange.