Saudi Aramco drilling JV to start commercial ops in Q3
OIL AND GAS NEWS
Sanad, a joint venture between state oil giant Saudi Aramco and Nabors Drilling Company is expected to start commercial operations in the third quarter of this year, reported Reuters.
The Saudi Aramco joint venture was set up to own, operate and manage onshore drilling rigs in the country.
Over the next five years, more than 5,000 people are expected to be hired taking the company's "Saudization" rate to 80 per cent, stated the report citing the company's weekly magazine, the Arabian Sun.
One of the largest joint ventures to have been formed in Saudi Arabia to date, Sanad is committed to using land rigs in future manufactured in the kingdom, it added.
