KCA DEUTAG Wins $100 Million of Land Drilling Contracts

KCA DEUTAG, the international drilling contractor, has been awarded in excess of US $100 million worth of land drilling contracts and extensions from oil and gas operators in Europe and Russia.

Holger Temmen, Chief Executive of KCA DEUTAG, said: "These contracts further reinforce our position in some of our key strategic growth areas and strengthen our relationships with the operators in these regions.

"The awards were made on the basis of our reputation for providing high performing, safe drilling operations, in areas where there is intensive drilling activity, requiring the availability of good quality rigs and crews at relatively short notice."

Burgaz, Gazprom's drilling subsidiary, has awarded KCA DEUTAG a contract for its rig T-500 for a 16 month plus extensions, four wells drilling campaign in the Novyi Urengoi field in the Yamburg region of west Siberia. The contract, which commenced at the beginning of April 2008, will see rig T-500 mobilized from less than 100km within the same field, where it has been working under a three well contract for Achimgaz (Gazprom/Wintershall).

Also in Russia, VCNG (TNK-BP/Rosneft) has extended until the end of May 2008 its existing contract with KCA DEUTAG for its T-2000 rig and has issued an LOI for another three year contract for the same rig, commencing 1 June 2008, for its ongoing drilling program in eastern Siberia.

GeoEnergy GmbH of Germany has awarded KCA DEUTAG a three-year contract, commencing August 2008, for its T-46 land rig. This will be used for geothermal drilling of 10 to 12 wells to depths of 2,800m to 3,800m in Oberrheingraben in Germany.

German utility company, Gasag, has awarded KCA DEUTAG a contract for its rig T-85 to undertake a six week workover program, commencing May 2008, in the B-12 field in Berlin.


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