Global drilling and engineering contractor KCA Deutag (“KCAD”) at present broadcasts that its land drilling operation has gained new contracts and contract extensions value roughly $110M. These contracts are for onshore drilling within the Middle East, Russia and Africa.
In the Middle East, KCAD has been profitable in profitable a complete of seven years of contract extensions for 5 heavy rigs working in Oman. The extension for every rig ranges from one to 2 years. In addition to this, we have now additionally signed a contract with a brand new consumer in Oman for one in every of our 2000hp rigs. This is for a set time period of six months.
Oman is a serious marketplace for the group and, following the acquisition of the Omani and Saudi Arabian companies of Dalma Energy LLC final 12 months, we now have 24 rigs in-country. KCAD’s drilling rig and oilfield gear producer, Bentec, additionally has a considerable manufacturing facility positioned in Nizwa, which operates as IDTEC.
In Russia, our land operation has been awarded a brand new drilling contract for a 1000hp rig with one of many nation’s main built-in oil firms. The contract has a set time period of 1 12 months. In addition to our 17 land rigs in Russia, KCAD is the drilling contractor on three platforms offshore Sakhalin Island.
In Nigeria one in every of our 700hp rigs has gained a one 12 months contract to hold out a workover program, with an extra one 12 months extension choice. Additionally a second rig has gained a brief time period contract for a 3 month programme. This 1500hp rig will probably be working in an space of Nigeria the place we see growing exercise. This is the rig’s second contract in fast succession on this location and there are a lot of different energetic alternatives that we’re at present pursuing.
KCAD has additionally had some success in Algeria the place we have been awarded a brief time period contract extension for one in every of our 1500hp Speed rigs.
Commenting on these contract awards Simon Drew, President of Land, mentioned, “We are delighted to announce these contract awards and look ahead to delivering worth for our shoppers by protected, efficient and trouble-free operations.”