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KCA Deutag sells ageing jack-up rig

UK-based drilling contractor KCA Deutag has sold its jack-up drilling rig Ben Loyal to Egypt’s Advanced Energy Systems.

KCA Deutag acquired the rig in 2005 and it has been continuously under contract in the Gulf of Mexico. The company said it was due for a special periodic survey next year.

Norrie McKay, CEO of KCA Deutag, commented: “The sale of the Ben Loyal is another important step for KCA Deutag as we continue to focus our growth strategy on our core businesses of premium rig services, specialist engineering and design, and land rig manufacturing.”

The sale price for the 1981-built rig was not disclosed.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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