New contract with Ukraine Public Joint Stock Company "UkrGasVydobuvannya" to supply five drilling rigs worth approximately $110 million

Bentec, one of the world’s leading manufacturers of drilling rigs and oilfield equipment, today announces that it has been awarded a contract by Ukraine Public Joint Stock Company "UkrGasVydobuvannya" (UGV) to supply 5 drilling rigs, with a hook load capacity of 450 tonnes, for delivery in 2019. The total value of the contract is approximately $110 million.

The rigs, which incorporate the latest in drilling technology, will be fully equipped with high performing Bentec components.  They will also be predominantly manufactured from locally sourced Ukraine steel.

The purchase of these state-of-the-art drilling rigs is an integral part of UGV’s “Concept 2020” strategy as it seeks to enhance its drilling capacities and deliver its goal to increase Ukraine’s natural gas production by 30% up to 20 billion cubic meters per annum.

Commenting on the award Dirk Schulze, CEO of Bentec said, “Bentec is very proud to have won this tender by providing the highest quality products at a superior price. Our drilling rigs are some of the best in the world and we look forward to supporting UGV in their 2020 strategy by providing them with the capability to significantly improve rig operating performance at a reduced cost.”

Oleg Prokhorenko, CEO of UGV commented, “The award of this contract to Bentec provides clear evidence that UGV and the Naftogaz Group have built a high-quality and transparent procurement process that allows us to buy the best equipment at a price which reflects the fierce competition across the industry.”

This contract award is crucial for UGV and has only been made possible thanks to the coordinated work of our technical specialists.  We look forward to working closely with Bentec as we move forward.”