The Press and Journal (Inverness, Highlands, and Islands)
Drilling firm KCAD lands deals valued at £355m
Drilling contractor KCA Deutag’s (KCAD’s) onshore division has won new contracts worth about £355 million in the Middle East, Africa and Europe.
An unspecified customer in the Middle East has booked three rigs for two years, with an option to extend by two more years.
In Oman, KCAD won a three-year contract extension, which starts in 2021, for five rigs operating for one of the country’s leading exploration and production companies.
Separately, a new twoyear contract with two oneyear extension options has been secured for another rig in Oman.
In Iraq, two KCAD rigs had their contracts extended by one year.
In Nigeria, the firm won a one-year contract for a single rig with an option to extend by an extra year.
KCAD, which has its headquarters in Aberdeen, has been awarded three contracts in Algeria for four rigs in total.
The largest is a threeyear contract for two of these rigs, with a two-year extension option. The other two are for short drilling programmes.
In the Netherlands, one of KCAD’s rigs has secured a new contract for a short drilling programme with a salt mining company.
Simon Drew, president of land drilling at KCAD, said: “These awards significantly increase our contract backlog and are a testament to the strength of our operational capability and reputation in the marketplace.”