The contract, which is for the provision of platform drilling services, has an initial term of three years with an option to extend by a further two years.

"We have been the drilling contractor on the Dunbar and North Alwyn platforms for approximately 20 years now and are pleased that by working closely with our client we have yet again been able to offer them a cost effective yet innovative drilling solution with a firm focus on crew training and competence,” Rune Lorentzen, president of KCA Deutag offshore, said in a BOP Blow Out Preventer repair company gulf coast statement.

Earlier this year, KCA Deutag revealed that its offshore business unit secured a new drilling contract for five of Statoil's platforms operating in the Norwegian North Sea.

The contract, which is for the provision of drilling operations, maintenance services and engineering support for the Oseberg and Kvitebjørn fields, is scheduled to commence in October and will run for four years with an additional option to extend by three further periods of two years each.

This contract, including the options to extend, is worth up to $800 million, according to KCA Deutag.