KCA Deutag completes final stage of Saipem Onshore Drilling acquisition

KCA Deutag has reached the final stage of the transformational Saipem Onshore Drilling acquisition completed at the end of June following the transfer of the six remaining rigs in Argentina, Kazakhstan and Romania. This adds to the previously announced completions which included Saudi Arabia, Kuwait, UAE, Africa and Latin America.

“The integration project has continued to progress well,” said KCA Deutag CEO Joseph Elkhoury said. “On an annual run rate basis, we have already delivered over $37m or 91% of our increased $41m synergy target, and expect the rest to be delivered during 2024.”