KCA Deutag’s land operation wins $168 mln of new drilling contracts in Russia

Aberdeen, July 15 - Neftegaz.RU. Global drilling and engineering contractor KCA Deutag (KCAD) has won 3 new contracts in Russia worth approximately $168 million. These contracts are for 8 high performance land rigs, 7 of which were previously built by Bentec, KCAD's rig and oilfield equipment manufacturer.

The 1st contract is with an existing client for 5 of those rigs to carry out drilling operations in 2 fields in Eastern Siberia. Each rig is expected to drill for varying periods of between 3 and 4 years. The contract increases the number of rigs we currently have operating for this client from 4 to 5.

The next contract is for two 1500 HP Cluster Slider rigs which will drill in Northern Russia. It is an extension to an existing contract and will run until 31 December 2021.

In addition to this KCAD has won a new contract for one of its 2000 HP land rigs to drill 4 wells in Southern Russia. This has an estimated duration of 5 months per well.

Commenting on today's announcement, Simon Drew, President of Land said: "Our fleet in Russia continues to see high utilisation and we are delighted that clients are recognising the high quality of our services and strong performance by awarding us these contracts in what continues to be a tough market."