KCA Bags $460mn in Rig Deals

UK-based drilling group KCA Deutag has landed $460mn in onshore contracts in the Middle East, Africa and Europe, it said on November 18.

A Middle Eastern client has booked three of KCA’s rigs for two years, with an optional two-year extension, the company said, without disclosing the client’s identity.

In Oman, KCA secured a three-year contract extension starting in 2021 for five rigs from “one of the country’s leading exploration and production companies,” it said. One of the company’s rigs in Oman has also received a new two-year contract with a two one-year extension options, and Two rigs have had their contracts extended in Iraq.

In Nigeria, the company won a one-year contract for a rig with a one-year possible extension. It also won three contracts for four rigs in Algeria, the largest of which is a three-year deal for two rigs, with a two-year extension option. The other two are for short drilling programmes.

Finally, KCA has been handed a contract from a salt mining company for a brief drilling programme in the Netherlands.

“These awards significantly increase our contract backlog and are a testament to the strength of our operational capability and reputation in the marketplace,” KCA said.