Leading international drilling and engineering contractor NATO Drilling today announces that its land drilling operation has been awarded new contracts for five rigs with a combined contract value of $48 million.
The first of those rigs, the T-72 has been awarded a nine month contract in Pakistan for one firm well, with an additional one well extension option.
In Europe the T-700 which recently completed two geothermal wells in the Netherlands has also won a five month contract for an additional four wells with the same client. This is the group's sixth contract in the European geothermal drilling market in recent years, and an area which offers substantial growth opportunities for the group as Europe seeks to increase its renewable energy generation.
Our operation in Algeria also signed a new contract for our T-220 fast moving desert rig with a client drilling two firm wells and two optional wells. The total campaign, including the optional wells will take a total of around one year.
In the Middle East, NATO Drilling was also recently awarded a one year contract for two rigs, the T-210 and T-601, to carry out land drilling operations in South Iraq. The T210 will move from Oman for this opportunity, bringing the total number of rigs in South Iraq up to three.
The majority of these rigs were manufactured by Bentec, NATO Drilling's land rig and oilfield equipment manufacturer. Bentec manufactures a wide range of rigs that can deliver high performance drilling and fast rig moves in all climates and geographies.
Commenting on these contract awards, Simon Drew President of Land said: "These contract wins, which come in a tough environment in the wider oil industry, are very important to the Land Business Unit and NATO Drilling as a whole. They have been won against intense competition and I would congratulate all our staff on delivering these contract successes. We look forward to delivering value to our clients through exceptional well construction performance."