KCA Deutag Wins $168mln Russian Gig

Global drilling and engineering contractor KCA Deutag (KCAD) announced that its land drilling operation has won three new contracts in Russia worth approximately $168m.

These contracts are for eight high performance land rigs, seven of which were previously built by Bentec, KCAD's rig and oilfield equipment manufacturer.  

The first contract is with an existing client for five of those rigs to carry out drilling operations in two fields in Eastern Siberia. Each rig is expected to drill for varying periods of between three and four years.  The contract increases the number of rigs we currently have operating for this client from four to five.

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 four wells in Southern Russia. This has an estimated duration of five months per well.

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