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KCA Deutag completes the acquisition of the Omani and Saudi Arabian businesses of Dalma Energy LLC

KCA Deutag UK Finance plc

KCA Deutag completes the acquisition of the Omani and Saudi Arabian businesses of land drilling contractor Dalma Energy LLC

Prior to publication, this document contained inside information under Regulation (EU) 596/2014 on market abuse.

Following the announcement made on 5 March 2018, KCA Deutag today announces that it has completed the combination with the Omani and Saudi Arabian businesses of Dalma Energy LLC.

As a result of this acquisition KCA Deutag is now one of the largest owners and operators of drilling rigs in the Middle East, with 46 land rigs in the region out of a total of 83 rigs owned and operated by KCA Deutag globally.  In addition to its Land Drilling operation, the KCA Deutag group has its Offshore, RDS and Bentec business units. These provide platform services, specialist engineering design and rig and equipment manufacture. 

Norrie McKay, CEO of KCA Deutag said: "Today is a major milestone in KCA Deutag's long history and a fundamental part of our strategy as we look to grow our business, either organically or by acquisition, in those markets where we see substantial growth opportunities.  I am therefore delighted to welcome our new Dalma colleagues to the KCA Deutag group as we enter an exciting new chapter for our business."

ENDS

For media queries please contact:

Diane Stewart

Group Head of Communications

Diane.stewart@kcadeutag.com

Tel: +44 (0)1224 987140

For Investor Relations queries please contact:

Jan Hetherington
Head of Corporate Development & Treasury
Jan.hetherington@kcadeutag.com
Tel: +44 (0) 1224 987695