Saudi Aramco is set to keep its rig count steady amid claims for budgetary cutbacks and attempts to make savings.
One of its contracted rig providers, Rowan, said Friday that Aramco is likely to continue to employ one third of its 28 contracted rigs.Â
Rowan said it was in talks with the Saudi giant to extend contracts for four of its drillships and was looking to win contracts for three jack-up rigs.
“We have been given every indication that Saudi Aramco intends to keep our jack-ups in their fleet,” Mark Keller, Rowan’s executive vice president of business development, told Reuters.
Meanwhile, Hercules Offshore said on Thursday that Saudi Aramco had terminated a drilling contract for its Hercules 261 rig.Â
The price of oil has more than halved since June last year severely affecting drilling activities and pushing companies to make cutbacks on their rig fleets.
Despite its vast profit and almost unrivaled market share, Saudi Aramco is said to be no exception.
According to media reports the Saudi state-run giant has been looking to reduce cost and make savings with the Wall Street Journal reporting last week that the it is considering cutting its exploration and production spending by as much as 25%, similarly to a number of international oil company and smaller independet firms.
