KCA Deutag wins $168 million in land drilling contracts in Russia
KCA Deutag (KCAD) announced that its land drilling operation has won three new contracts in Russia worth approximately $168 million. 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 the company currently has operating for this client from four to five.
The next contract is for two 1,500-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 2,000-hp land rigs to drill four wells in Southern Russia. This has an estimated duration of five months per well.
“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,” Simon Drew, President of Land, said.