KCA Deutag secures follow up drilling contract for geothermal project in the Netherlands
Scotland-headquartered drilling and engineering contractor, KCA Deutag has secured a follow up drilling contract for additional four wells for a geothermal project in the Netherlands, having recently finished the first two wells for the same client.
International drilling and engineering contractor KCA Deutag announced today the signing of several new drilling contracts for five drilling rigs. The overall combined contract value is at $48 million.
One of the rigs, the T-700 (link pdf) of the company has won a five month contract to drill an additional four wells. The company recently completed two wells for a geothermal project in the Netherlands for the same client.
This is the group’s sixth contract in the European geothermal drilling market in recent years, and an area which offers substantial growth opportunities for the group as Europe seeks to increase its renewable energy generation.
The other drilling contracts are for oil & gas drilling projects in Pakistan, Algeria, South Iraq.
The majority of the company’s rigs were manufactured by Bentec, KCA Deutag’s land rig and oilfield equipment manufacturer. Bentec manufactures a wide range of rigs that can deliver high performance drilling and fast rig moves in all climates and geographies.
Commenting on these contract awards, Simon Drew President of Land said: “These contract wins, which come in a tough environment in the wider oil industry, are very important to the Land Business Unit and KCA Deutag as a whole. They have been won against intense competition and I would congratulate all our staff on delivering these contract successes. We look forward to delivering value to our clients through exceptional well construction performance.”
Source: KCA Deutag