American Helmerich & Payne Acquired the Scottish Drilling Company KCA Deutag for $ 1.97 Billion
The American drilling company Helmerich & Payne announced the acquisition of KCA Deutag International, a Scottish company engaged in ground and sea drilling, engineering and technology. The amount of the transaction amounted to $ 1.97 billion.
The activities of the Scottish KCA Deutag are applied to 26 countries, the company owns and manages 167 drilling plants in regions such as the Middle East, the Caspian Sea, Europe, Africa, Canada and Latin America and specializes in advanced automation technologies directed drilling and survey control, as well as on the development of technology for decarbonization through its Kenera division. The transaction also includes 29 sea drilling platforms located KCA Deutag and three Keneera facilities serving the oilfield sector.
After completing the acquisition of Helmerich & Payne will expand its presence in the United States and in the Middle East, which are considered two main regions of oil and gas production.
As a result of the transaction, a united company will be created with strong positions in the field of ground drilling and diversified geographical presence.
The transaction will be closed until the end of 2024 after the fulfillment of the usual conditions and the approval of the regulatory authorities.
At the end of June 2024, the KCA Deutag completed the Saipem Ontshore Drilling transaction, with the transfer of six drilling rigs in Argentina, Kazakhstan and Romania, which were added to Saudi Arabia, Kuwait, the UAE, Africa and Latin America.
