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KCA Deutag Sells Jack-up Rig to Egyptian Firm

KCA Deutag sold its jack-up drilling unit, the Ben Loyal, to Egypt-based Advanced Energy Systems A.D.E.S. SAE for an undisclosed sum.

Built in 1981 and acquired by KCA Deutag in 2005, the Ben Loyal’s operational performance has been strong and until October of this year it had been continuously under contract in the Gulf of Mexico.

The Friede & Goldman L-780 MOD II rig, which is due for a special periodic survey next year, is capable of drilling in water depths of 300 ft.

Norrie McKay, KCA Deutag CEO said: “The sale of the Ben Loyal is another important step for KCA Deutag as we continue to focus our growth strategy on our core businesses of premium rig services, specialist engineering and design, and land rig manufacturing.”

Source : www.petroleumafrica.com
Posted On: 12/22/2015 12:00:00 AM

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