Saudi Aramco’s SANAD expects to begin commercial ops in Q3

The Saudi Aramco Nabors Drilling Co. (SANAD), an equally-owned joint venture between the state-run Saudi Aramco and Nabors Industries, is expected to begin commercial operations in Q3 2017, the major oil producer said in The Arabian Sun weekly.

The company recently held its first board meeting in Dhahran. 

SANAD is a multi-billion dollar undertaking, which focuses on onshore drilling operations and is projected to employ a staff of over 5,000 persons with 80 percent Saudization over the next five years, Saudi Aramco added.

The joint venture was established to own, operate, and manage onshore drilling rigs in the Kingdom.

Nabors Industries (NYSE: NBR) owns and operates the world's largest land-based drilling rig fleet and is a leading provider of offshore platform rigs in the United States and other international markets.