KCA Deutag's Land Drilling business awarded contracts worth US$110 million

The new business is made up of a mix of contract wins, allowing the company to mobilise stacked rigs, and contract extensions.

The company has secured a new five-year contract with a major oil company for operations in south-eastern Europe. The rig will start drilling operations in 2022 following mobilisation from the UAE. Including options periods, the total contract value is US$75 million. Also in Europe the T46 rig is mobilising for a single well contract valued at US$3 million.

In Pakistan, contracts worth over US$12 million have been placed for three rigs. The first of these is for the previously stacked T72 rig to undertake a workover. The second covers the T202 rig which is mobilising from the UAE and the third is for the T75 rig which is in country but has been stacked for some time. Two of these contracts are with new clients in Pakistan.

In Russia, contracts for four client-owned rigs, on which the company provides operations and maintenance services, have been extended from October this year to March 2022. Additionally, a new work order has also been secured for the T391 rig this year for a further eight wells during the remainder of 2021. The total contract value is over US$13 million.

A new US$7.4 million contract has also been secured in Kurdistan to mobilise the T63 rig with a client the company was operating for prior to the outbreak of the Covid-19 pandemic.

Simon Drew, President of Land, said: “We are delighted to have been awarded these contracts and contract extensions, which build on our long-standing relationships with a number of key customers in important territories for the Group.

“At the same time, we continue our development and deployment of our Well of Innovation technologies to improve the value we deliver to our oil and gas clients. This contributes to our ability to secure contracts such as these.

“Alongside this, we have and are developing new technologies as we leverage our Group-wide operating, manufacturing and engineering capabilities to make our rigs more energy efficient while at the same time move into renewable energy applications as the energy transition gathers pace and scale.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/29032021/kca-deutags-land-drilling-business-awarded-contracts-worth-us110-million/