KCA Deutag wins US$110m of new business in land drilling market

30 Mar 2021

​KCA Deutag has secured contracts worth around US$110m (£79.8m) for its Land Drilling business in Pakistan, Russia, Kurdistan, south-eastern Europe and Germany.

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

The Group 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$75m (£54.4m). Also in Europe the T46 rig is mobilising for a single well contract valued at US$3m (£2.17m).

In Pakistan, contracts worth over US$12m (£8.7m) 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$13m (£9.4m).

A new US$7.4m (£5.3m) contract has also been secured in Kurdistan to mobilise the T63 rig with a client company which was operating prior to the COVID pandemic.

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