Jan 06 - Contract Wins for KCA DEUTAG

Source Press Release
Company Abbot Group (IFRS) 
Tags Other Businesses
Date January 10, 2006

KCA DEUTAG has signed a Letter of Intent with South Rub Al-Khali Company Limited (SRAK), a consortium formed by Shell, Total and Saudi Aramco, for KCA DEUTAG’s newly upgraded 3000HP heavy rig to explore for non-associated gas and condensate in the Rub Al-Khali concession.

The contract, valued at approximately $14 million, requires three consecutive wells to be drilled to depths of 15,000 ft over a period of approximately 10-14 months.  However, in case of gas discovery, the period is likely to be extended.

The heavy rig, which is currently being modified to meet SRAK’s technical requirements, has recently completed a contract for Margham in Dubai.

The Rub Al-Khali area is located in harsh environment with the nearest road lying 500 kilometres from the location.  Mobilisation is expected to commence towards the end of the first quarter of 2006 to meet the agreed commencement date of 1 May 2006.

This contract demonstrates KCA DEUTAG’s ability to execute projects which are extraordinarily challenging and which require a high level of technical expertise, while at the same time delivering exemplary standards of safety.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd