KCA Deutag - comment

KCA has won new contracts and extensions, 2 and 5 years in length, in the North Sea, for the value of $70m. These contract wins are with existing clients outlined below. This continues to show that the North Sea is an important part of the offshore business, with 17 of the 29 rigs placed in the North Sea (13 of the 19 operating rigs). 

Currently, KCA operates in the North Sea with Enquest (3 rigs operating, expiring in Dec ‘25), CNOOC (1 rig operating, expiring in Feb 25), CNR (3 rigs, all stacked, expiring in Nov ’24), Total (2 rigs, one operating expiring May 25), and Harbour Energy (1 rig stacked, expiring in Nov 23).