Saudi Aramco Nabors Drilling Company, or SANAD is a 50/50 joint venture partnership between Saudi Aramco and Nabors. SANAD is one of the anchor projects that has emerged from Saudi Arabia's efforts to introduce world-class industry hubs locally, in order to foster economic growth and job creation. Nabors and Saudi Aramco have made contributions of equal value consisting of cash and/or assets into the entity. Additionally, Nabors and Saudi Aramco have agreed that SANAD will purchase and operate fifty (50) locally-sourced newly constructed rigs over a ten year period, at defined contracted economics.
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