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ARO Drilling Announces Commencement of Operations

ARO Drilling, a 50/50 joint venture with the Saudi Arabian Oil Company ("Saudi Aramco") and Rowan Companies plc (“Rowan”), announced it commenced operations on October 17, 2017.

Kelly McHenry, Chief Executive Officer, stated, “We are pleased to announce the launch of ARO Drilling. We look forward to serving the drilling needs of Saudi Aramco, while providing jobs and growth opportunities for the people of Saudi Arabia.”

Abdulhameed Al-Rushaid, Vice President of Drilling & Workover of Saudi Aramco stated, “ARO Drilling supports Saudi Arabia’s Vision 2030 in the development of commerce and the formation of jobs for our younger generation. We are pleased to partner with Rowan in this joint venture and believe this will be a successful company.”

Tom Burke, President and Chief Executive Officer of Rowan, stated, "We are honored as the chosen company to work with Saudi Aramco to form and support ARO Drilling. Our extensive history in the offshore drilling business provides valuable experience and leadership to the joint venture.”

ARO Drilling is a provider of contract drilling services with an initial fleet of four self-elevating jack-up rigs. One additional jack-up will be added to the fleet in late 2017 and two more jack-ups will be added in late 2018. Additionally, ARO Drilling has committed to purchase twenty jack-up rigs to be constructed by a Saudi Aramco manufacturing joint venture that are expected to be delivered between 2021 and 2030.

For more information, interested parties are invited to view ARO Drilling’s website at www.arodrilling.com.