KCA Deutag awarded contract extension with Equinor worth $140m

Global drilling, engineering and technology company KCA Deutag today announces that it has been awarded a two-year drilling contract extension on five of Equinor's fixed platforms operating in the Norwegian North Sea.

The contract - worth USD $140m - is for the provision of drilling operations, maintenance services and engineering support for the Oseberg and Kvitebjørn fields and will now run to September 2024 on the same commercial terms.

KCA Deutag was originally awarded the contract on 1st October 2018 for a period of four years with an option to extend by three further periods of two years each. The Group also has responsibility under a separate contract with Equinor for the management, operation and maintenance of the Askepott and Askeladden Category J jack-up rigs.

Commenting on the contract extensions, Ole Maier, President Offshore Services, commented: "This extension is great news for our business in a challenging and competitive market and testament to our customer-centric approach to platform operations. We are delighted to continue our successful and long-standing relationship with Equinor into 2024."