£100m bids for north east company KCA Deutag

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Global energy services contractor KCA Deutag has announced contract extensions worth nearly £100m for its onshore drilling business.

The agreements mainly concern land platforms in Saudi Arabia and Oman.

They come as the company continues its work to complete the acquisition of Saipem’s land rig business.

Italian multinational oil services company Saipem is selling its onshore drilling business to KCA Deutag for £482m.

KCA Deutag said these developments reflect its focus on growing key markets in the Middle East.

Supply breakdown

In Saudi Arabia, the company obtained several one-year extensions worth one
combined total of £30.6 million.

A one-year deal with a new customer in Oman, with a further one-year extension option, as well as deals with existing customers across multiple platforms in the same country brought in £61.7m additional pounds.

In Europe, KCA Deutag is celebrating new contracts won for a total of almost £5.25 million.

These will see the drilling contractor carrying out work on projects in Germany and the Netherlands.

These won and extended contracts reflect our strategic focus on growth. »

KCA Deutag’s President of Land Drilling, Simon Drew, said: “We are delighted to have been awarded
several new contracts and extensions, building on our successful track record of safe and efficient delivery to our valued customers in key markets.

“These won and extended contracts reflect our strategic focus on growth, particularly in the Middle East, fueled by ‘innovation sink’ technologies and energy-efficient operations.”

Company Roots

KCA Deutsch was founded in 1992, as the Abbot Group, by former executive chairman and Moray sheep farmer Alasdair Locke, one of Scotland’s wealthiest people.

Abbot went public in 1995 and in 2001 bought one of the biggest names in North Sea drilling, Deutag, for £134m.

The global headquarters of KCA Deutag near Aberdeen.

Today, the group operates around 80 drilling rigs in 14 countries, either directly or through subsidiaries.

It employs people in Europe, Africa, the Middle East, the Caspian region and Canada.

The company’s global headquarters are in the City South business park, between Aberdeen and Portlethen.

The group’s activities are all grouped into three business units – onshore, offshore and Kenera.

With a strong focus on energy transition, Kerera brings together KCA Deutag’s RDS design and engineering specialists and German land rig and oilfield manufacturer Bentec under one business unit.

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[£100m deals for north-east firm KCA Deutag]

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