US contractor Rowan Companies and Saudi Aramco have launched their much-heralded jack-up rig joint venture with a starting fleet of four units, writes Eoin O'Cinneide.
ARO Drilling, formed through a joint venture that was created in late November, started operating last week, a delay from a previously-envisaged schedule of the second quarter.
The 50:50 joint venture was set up to own, operate and manage offshore drilling rigs working in Saudi Arabia, with the partners also committed to building 20 new units at an under-development shipyard complex at Ras al-Khair, where Saudi state giant Aramco is a partner.
