KCA Deutag Bags Two Major Contracts

UK drilling contractor KCA Deutag reported Thursday that it has signed two "significant" contracts valued at more than $165 million.

The first contract is a new five-year operations and maintenance program for platforms offshore Angola, with mutually-agreeable options to extend the duration of this contract. KCA Deutag said that in keeping with its history of utilizing local talent, 70 percent of the crew for this project will be Angolan nationals.

The second award is a 30-month extension to an existing drilling and maintenance services contract for a platform in Norway.

KCA Deutag President of Offshore Run Lorentzen commented in a company statement:

"To be awarded two contracts in these core markets is an excellent result for KCA Deutag.  We have an undeniably strong reputation working in these offshore regions, and these contracts will only serve to enhance this even further.  Going forward we are able to continue to produce results in regions where we have an impeccable track record."

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