November 21, 2016 / 11:42 AM / a year ago

BRIEF-Rowan partners with Saudi Aramco to create new offshore drilling company

Nov 21 (Reuters) - Rowan Companies Plc

* Rowan partners with Saudi Aramco to create a new offshore drilling company

* Rowan Companies PLC - New company is anticipated to commence operations in q2 of 2017

* Rowan Companies PLC - Rowan and Saudi Aramco have committed new company to purchase future newbuild rigs that will be constructed in Saudi Arabia

* Rowan Companies - Co, Saudi Arabian Oil Co signed, through units, agreement to create 50/50 JV to own, operate, manage offshore drilling rigs in saudi arabia

* Rowan Companies PLC- Will contribute an additional two jack-up rigs as they complete current Saudi Aramco contracts in late 2018

* New joint venture company will use Rowan’s business in Saudi Arabia as its base Source text for Eikon: Further company coverage:

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