KCA Deutag Energy LLC awarded Four New Drilling Rigs contract
Petroleum Development Oman (PDO) will award KCA Deutag Energy LLC a ten-year contract for the provision of drilling services with four new highly automated rigs that will be built in the Sultanate of Oman. The project enhances an existing strong relationship between the two companies.
The ten-year contract comes with options to extend for a further two years and, with those options included, has a total value around $550m.
The innovative rigs will be constructed by International Drilling Technology Co. (IDTEC) in Oman. IDTEC, majority owned by the KCA Deutag Group, is the group’s local rig manufacturing and servicing company, which has already acquired the necessary expertise and certifications for rig construction. The technologically advanced rigs will be the first of their kind to be constructed in the Sultanate of Oman, marking a step change in the rig building capabilities in country.
KCA Deutag Energy LLC will invest approximately $100m to build the new rigs in the Sultanate of Oman and expects to commence operations in the second half of 2023. Around 40% of this value will be spent with Omani suppliers, including local small and medium enterprise (SME) companies.
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