KCA Deutag, the global drilling, engineering and technology provider, has secured contract awards, extensions and options worth around $112 million, the company said on Thursday. The contracts are primarily related to land rigs in Saudi Arabia and Oman as KCA Deutag continues to focus on growth in the Middle East.
In June 2022, Aberdeen-headquartered KCA Deutag agreed to acquire Saipem’s onshore drilling business as part of its growth strategy to expand in core markets. The acquisition was aimed to create a leading global onshore drilling business with over $1.6 billion in revenue across core geographies in the Middle East and key markets in Europe and Latin America.
In Saudi Arabia, the company has been awarded multiple one-year extensions worth a combined total of $35 million. In Oman, a one-year contract with a new client, which includes a further one-year option, in addition to contract extensions and options with existing clients on multiple rigs have delivered an additional $70.5 million.
In Europe, KCA Deutag has been awarded almost $6 million in new contracts in Germany and the Netherlands.
“These contract wins and extensions reflect our strategic focus on growth, particularly in the Middle East, powered by Well of Innovation technologies and energy efficient operations,” KCA Deutag President Land Simon Drew said.