KCA Deutag’s Backlog of Drilling Contracts Exceeds $900M
Oil and gas drilling services company KCA Deutag has secured a backlog exceeding $900 million in new contracts and extensions for land and offshore drilling projects across Saudi Arabia, Oman, Pakistan, Angola, and Europe.
In offshore drilling segment of the backlog, KCA Deutag secured two contract extensions worth a total of six years and $87 million, covering projects in Europe and Angola.
Additionally in Norway, contracts have recently been signed for two awards KCA Deutag announced in March this year, adding over $410 million to the company’s backlog.
On the other hand, new land contracts and extensions amounting to more than $431 million have further solidified the company’s reputation as a premier drilling contractor. Extensions for four rigs in Saudi Arabia are collectively valued at $352 million, with contract durations ranging from five to ten years, adding up to a total of 25 years.
Furthermore, success in Oman has seen the company extend contacts on three rigs worth a combined value of $50 million. Two rigs have received two-year extensions while another has been extended for nine months.
In Europe, the company has secured a new contract for a rig in Germany valued at over $10 million, ensuring nearly a year of work. In Pakistan, two new contracts worth over $20 million provide three years of activity.
"These awards demonstrate our leading position and further cement our reputation as the partner of choice for both land and offshore drilling. The contracts announced provide continuation of services with key customers for the KCA Deutag group, based on strong safety performance and service delivery.
“As such, the contracts are testament to the performance of the KCA Deutag teams in each country and demonstrate our proven track record of developing and empowering those local leadership teams to provide in-country value, maximize local employment opportunities and support skills development,” said Simon Drew, President of Land at KCA Deutag.
