KCA Deutag - comment

Further announcement from KCA Deutag of additional contract wins, this time in their Land Drilling segment. The majority of the contract wins are extensions and/or options over future years, but KCA have also secured a contract with a new client in Oman. Overall, it is c.$110m of new contracts, primarily in their key market of the Middle East (Saudi Arabia and Oman).

As part of the announcement, the Company stated that work continues to close out the acquisition of Saipem’s land rig business.