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 KCA Deutag sells Nigerian rigs to native participant
August 28, 2022

KCA Deutag sells Nigerian rigs to native participant

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KCA Deutag has accomplished the sale of 5 drilling rigs in Nigeria for $18 million.

Lagos-based Geoplex Drillteq purchased the rigs. The Nigerian firm is taking on operations whereas KCA will proceed to offer technical help companies.

The 5 rigs bought embody the three,000 hp extremely heavy T80A, the two,000 hp T26A and T209, the 1,500 hp T57 and the sunshine 800 hp T43.

KCA’s president of land Simon Drew stated the sale would permit the corporate to focus within the Center East.

“We have now developed a constructive working relationship with Geoplex throughout our discussions and are assured in Geoplex’s functionality as an organisation and can work with them to offer technical help for continued supply to our shoppers and folks,” the chief stated.

KCA is focusing more and more on the Center East, Drew stated, the place it has 40 rigs in operation. The official additionally famous a current contract with Petroleum Growth Oman (PDO). This entails an funding of $100mn and development of 4 new land rigs.

The corporate additionally stated the sale was according to Nigeria’s Native Content material Act, which helps elevated home possession.

KCA has been working in Nigeria since 1987. Wole Ogunsanya arrange Geoplex in 2002.

The Nigerian firm is increasing, working with Yinson on companies for floating manufacturing, storage and offloading (FPSO) vessels and having just lately signed as much as take a stake in a marginal subject.

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