Italy’s Saipem has won new onshore drilling contracts in Saudi Arabia worth approximately US $250 million.

The contractor has signed five contracts with Saudi Aramco for the charter of 2,000-HP and 1,500-HP onshore drilling rigs. The contracts are set for periods from 3 to 5 years, starting at different times between the second half of 2012 and the third quarter of 2013.

Saipem said that, in view of the contracts signed, it will expand its onshore fleet by buying three new rigs, while the rest will be transferred to Saudi Arabia from other areas.

The company already operates two jackups and 10 onshore rigs in Saudi Arabia.