Thursday 7 December 2023

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KCA Deutag wins $379m in drilling deals in Mideast & Pakistan

DUBAI, September 28, 2023

KCA Deutag, a leading drilling, engineering and technology firm, has secured land drilling contracts and contract extensions worth $379 million, with existing and new customers in Saudi Arabia, Oman and Pakistan. 
The awards span key markets in the Middle East, solidifying KCA Deutag's position as a leading land drilling contractor in the area.
In Saudi Arabia, KCA Deutag has been awarded contract extensions and an equipment upgrade project with a combined value of $292 million. The contract extensions amount to a total of 23 years of additional work across four rigs, while the equipment upgrade project includes the delivery of mechanised catwalks on two rigs to improve safety and operational performance. 
Contract extensions in Oman
Further success in Oman has seen the company extend two existing contracts as well as gain one new contract award with a total value of $78 million. Two rigs in Oman have secured extensions for two and one-year contracts respectively while a third rig, currently stacked, has been awarded a new three-year contract, with options that could extend this to five-years.
In Oman KCA Deutag has completed the build of the first two highly automated newbuild rigs which are currently undergoing commissioning and are due to be mobilised to their first location shortly. The company has finalised the design of the next two rigs with the customer and has begun the construction phase for rig delivery in 2024. Each of the four rigs will fulfil a 10-year drilling operations contract secured in January 2022.
New Pakistan contract
One rig in Pakistan has also secured a new one-year contract, with a value of $9 million with an existing customer in the country. 
KCA Deutag President of Land Rigs Simon Drew said: “These contract awards and extensions in the Middle East demonstrate our strategic focus on sustainable growth in this key core region for our group. This is testament to our strong safety and operational performance as we collaborate with our customers to safely deliver additional drilling programmes and solutions for the energy transition in the region.”--TradeArabia News Service


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