Aramco signs largest drilling contract with Global Santa to provide 4 rigs

MESTEEL – Offshore oil and gas drilling contractor GlobalSantaFe said it has signed a contract with Saudi Aramco to provide four jack-up rigs for four-year terms commencing in the first half of 2007.

The four rigs, the GSF Main Pass I, GSF Main Pass IV, GSF High Island I and GSF High Island II, are scheduled to mobilize in pairs in the fourth quarter of 2006 from the U.S. Gulf of Mexico to a Middle East shipyard for approximately 60 days of upgrades. The rigs will then move to their drilling locations offshore Saudi Arabia, with contract commencement expected in March and April 2007.

The Saudi Aramco agreement is the largest drilling contract ever signed by GlobalSantaFe, and it is believed to be the largest jackup agreement in the history of the offshore drilling industry, Global Santa Fe said in a statement.
MESTEEL