KCA Deutag has completed the sale of five drilling rigs in Nigeria for $18 million.
Lagos-based Geoplex Drillteq bought the rigs. The Nigerian company is taking over operations while KCA will continue to provide technical support services.
The five rigs sold include the 3,000 hp ultra heavy T80A, the 2,000 hp T26A and T209, the 1,500 hp T57 and the light 800 hp T43.
KCA’s president of land Simon Drew said the sale would allow the company to focus in the Middle East.
“We have developed a positive working relationship with Geoplex during our discussions and are confident in Geoplex’s capability as an organisation and will work with them to provide technical support for continued delivery to our clients and people,” the executive said.
KCA is focusing increasingly on the Middle East, Drew said, where it has 40 rigs in operation. The official also noted a recent contract with Petroleum Development Oman (PDO). This involves an investment of $100mn and construction of four new land rigs.
The company also said the sale was in line with Nigeria’s Local Content Act, which supports increased domestic ownership.
KCA has been operating in Nigeria since 1987. Wole Ogunsanya set up Geoplex in 2002.
The Nigerian company is expanding, working with Yinson on services for floating production, storage and offloading (FPSO) vessels and having recently signed up to take a stake in a marginal field.
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