KCA DEUTAG to get most revenues from projects in Azerbaijan
Azerbaijan, Baku, March 31 / Trend E. Ismayilov /
The largest part of KCA DEUTAG's expected revenue within the renewed contracts for drilling operations will fall to contracts signed with the Azerbaijan International Operating Company, a statement said.
"In our platform drilling division almost every contract was extended by negotiation or a competitive tender, securing a revenue backlog of more than $1.5 billion," the message said.
KCA DEUTAG conducts drilling operations for a project developing a block of the offshore fields Azeri-Chirag-Gunashli in Azerbaijani sector of the Caspian Sea. The company received a contract for a Chirag oil project last year. It involves an increase in oil production from Azeri-Chirag-Guneshli. The contract provides for engineering and design work of the drilling platform modules. It is estimated at $30 million.
Participants of the project to develop Azeri-Chirag-Guneshli are: BP (operator - 37.43 percent), Chevron (11.27 percent), SOCAR (10 percent), INPEX (10.96 percent), Statoil (8.56 percent), Exxon (8 percent), TPAO (6.75 percent), Itochu (4.3 percent) and Hess (2.72 percent).
KCA DEUTAG is one of the world's largest international land drilling contractors. The Company also operates a fleet of Mobile Offshore Drilling Units. It employs approximately 8,000 people and operates in over 20 countries worldwide.