KCA Deutag to target energy transition market with new business unit
KCA Deutag, a drilling, engineering, and technology contractor, has created a new business unit that will expand its offering in both the hydrocarbons and energy transition markets as part of its efforts to pursue energy transition market opportunities.
The new business unit, Kenera, will consolidate and leverage the skills, competencies, and experience of the existing group with the Bentec and RDS businesses to create scale and allow the development of additional technologies and services, KCA Deutag explained last week.
According to the company, Kenera will have three dedicated segments covering innovative services, technology & engineering, and manufacturing. It is being established to deliver the company’s strategic growth aspirations in current and new markets for both the traditional oilfield and renewable energy space.
Kenera will bring together over 130 years of experience and industry expertise from the German-based technology manufacturer and the UK-based engineering and design specialists with investment in technology and innovation.
Joseph Elkhoury, CEO of KCA Deutag, commented: “Kenera will leverage the Group DNA to not only continue to deliver and expand our current offerings to our key customers in core markets, but also allow us to pivot and actively play our role in the energy transition”.
Elkhoury further added: “Kenera will allow greater collaboration between our services, engineering design, technology and manufacturing teams which, coupled with focused investment in innovation and key partnerships with customers and select third parties, will provide us with a solid platform to deliver our ambitious growth strategy and create value for all stakeholders: employees, customers, investors and the communities where we work.
“This year we have already secured several significant new contract wins. The launch of Kenera will allow us to build on this success”.
The Kenera business unit is expected to be fully operational during the fourth quarter of 2021.