These contracts are awarded for onshore drilling in the Middle East, Russia and Africa.
In the Middle East, KCAD succeeded in winning a total of seven years of contract extensions for five heavy rigs operating in Oman. The extension for each rig ranges from one to two years. In addition to this, the company also signed a contract with a new client in Oman for one of their 2000hp rigs.
Oman is a major market for the group and, following the acquisition of the Omani and Saudi Arabian businesses of Dalma Energy LLC last year, the company stated that it has 24 plants in the country. KCAD’s drilling plant and oilfield equipment manufacturer, Bentec, also has a substantial manufacturing facility located in Nizwa, which operates as IDTEC.
In Russia, the company has been awarded a new drilling contract for a 1000hp rig with one of the country’s integrated oil companies. The contract has a fixed one-year term. In addition to the 17 land plants in Russia, KCAD is the drilling contractor on three platforms offshore Sakhalin Island.
In Nigeria, one of the company’s 700hp plants has won a one-year contract to carry out a workover programme, with an additional one-year extension option. A second rig won a short-term contract for a three-month programme. This 1500hp plant will operate in Nigeria.
The company stated that this is the second quick succession contract for the rig at this location and that there are many other active opportunities that they are currently pursuing.
KCAD has also had some success in Algeria, where they were awarded a short-term contract extension for one of the 1500hp speed rigs.
Simon Drew, president of Land, commented, “We are delighted to announce these contract awards and look forward to delivering value for our clients through safe, effective and trouble-free operations.”