KCA Deutag Secures Platform Drilling Contract worth Approximately $550M

Source: www.gulfoilandgas.com 6/2/2021, Location: Asia

KCA Deutag has secured a contract award and two contract extensions for platform drilling services in Russia, UK and the Norwegian North Sea.

The combined value of these awards is approximately US $550M and will account for thirteen years of contract backlog.

KCA Deutag’s Offshore division secured a five-year contract, with a further 2x2 year extension options, with a major oil company offshore Russia. The award will see the local team continue to deliver platform drilling services including rig maintenance, warehousing, inventory procurement and management for three offshore platforms. The award allows KCA Deutag to continue to build on its successful integrated service model by directly managing other offshore services and providing multiskilled crews.

In addition, the UK and Norway teams were also successful in securing two separate contract extensions with longstanding customers.

As oil and gas operators look for ways to accelerate the realisation of their ESG goals, KCA Deutag play a pivotal role in this transition. Through its Group-wide products they are able to engage customers and present solution-based offerings. In the case of these recent awards, the focus has been on the assessment, monitoring and reduction of carbon emissions by means of operational and equipment optimisation.

KCA Deutag also continue the roll out and implementation of their +veDRILL™ technology, aimed at driving performance improvement and digitalisation of the offshore worksite.

Ole Maier, President of Offshore and RDS said: "We are delighted to have been awarded these contract extensions, which builds on our long-standing relationships with our key customers.

Through multiskilling of our expert rig crews, we are pleased to be able to extend our services on these platforms, alongside continuing to deliver the highest standards of operational performance for our customer.

At the same time, we continue our development and deployment of our Well of Innovation technologies to improve the value we deliver to our customers.

This contributes to our ability to secure contracts such as these. Alongside this, we have and are developing new technologies as we leverage our Group-wide operating, manufacturing and engineering capabilities to make our operations more energy efficient while at the same time move into renewable energy applications as the energy transition gathers pace and scale.”

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