Saudization Gets Real: Contractors Are Selling Out To Avoid Being Phased Out

For service and drilling contractors that want a piece of Saudi Aramco’s $30bn annual budget, a line has been drawn in the desert sand. As we write, the NOC is making some of its first big moves to make good on an ambitious local content plan unveiled about a year ago.

Two twin “Saudization deals” inked with drillers in the past 30 days reveal some drastic changes for foreigners in Saudi oilfields. And the two deals introduce up to 70 incremental newbuild rigs against a background of global oversupply. We explore what, why and what’s next…

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