KCA Deutag has been awarded contracts worth almost $185 million from leading E&P companies across key markets in the Middle East region. Multiple rig extensions have been confirmed in Saudi Arabia, representing 13 years of work across three rigs, and in Oman, one-year contract extensions have been awarded for two heavy 2,000-hp rigs.
“These awards are a sign of rising confidence in our core markets as we increase and sustain activity following the COVID-19 pandemic challenges and resulting reduction in oil demand. We have invested significantly in the Middle East, and these contract extensions illustrate that our strong operational and technological performance is delivering value for our clients in the region,” said Simon Drew, President of Land at KCA Deutag. “The awards contribute towards building a strong and secure future for KCA Deutag in key core markets and stimulate further growth as we leverage our group-wide experience and expertise to further develop our customer-centric Well of Innovation technologies and continue to make our rigs more energy efficient.”