Further to the announcement issued on 18 February, world drilling and engineering contractor KCA Deutag (“KCAD”) is delighted to announce the award of recent contracts on the again of robust tendering exercise in its land drilling enterprise. These contracts, with a mixed worth of roughly $54M, are for drilling operations within the Middle East, Russia, Europe and Africa.
Tendering exercise within the Middle East particularly continues to extend, with a excessive stage of demand for rigs.
A shopper has contracted three 2000hp Desert Rigs for an choice interval to order them for a future venture. These excessive efficiency rigs have been initially manufactured by Bentec, KCAD’s drilling rig and oilfield tools producer, at its manufacturing amenities in Germany. Bentec’s rigs are constructed to function on the earth’s most difficult environments, and are ideally suited to the intense warmth of the desert.
In Iraq, now we have additionally been awarded a brand new contract for a 2000hp land rig to drill seven wells for a worldwide supplier of services to the power business. This drilling programme is anticipated to begin in April and final till early subsequent 12 months.
In Russia one in all our 1000hp land rigs has been awarded a brand new 5 12 months drilling contract, together with choices, by one of many nation’s main oil and gasoline corporations. KCAD has been working in Russia since 2002 and it is without doubt one of the group’s largest areas of operation.
We have additionally had current success in Algeria, the place now we have received a brand new drilling contract for one in all Bentec’s fast paced 1500hp Speed Rigs which can begin in June. The rig will perform a brief time period plug and abandonment programme.
In Germany, KCAD has received two quick time period contracts, each of which can begin in September. The first is for a Bentec constructed 2,000hp EURO rig to drill one effectively and the opposite is for a 1,500hp EURO rig to drill a sidetrack effectively.
Commenting on exercise ranges within the world land drilling market, Simon Drew, President of Land, stated, “It is nice to see exercise selecting up within the worldwide drilling business as soon as once more throughout numerous markets, and while pricing stays very aggressive, we’re happy to see this feeding by means of to a rise in utilisation throughout our land drilling fleet.”