Launch of new business unit to drive growth and embrace energy transition market opportunities

KCA Deutag, one of the world's leading drilling, engineering and technology contractors, has announced the creation of a new business unit which will expand its offering in both the hydrocarbons and energy transition markets. 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.

Kenera will have three dedicated segments covering innovative services, technology & engineering, and manufacturing, and is being established to deliver the Group's strategic growth aspirations in current and new markets for both the traditional oilfield and renewable energy space.

As part of the Group customer-centric approach to meet evolving market needs, Kenera will bring together over 130 years of experience and industry leading expertise from the renowned German based technology manufacturer and the UK based engineering and design specialists with investment in transformative technology and innovation.

Joseph Elkhoury, CEO of KCA Deutag, comments: "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.

"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 Q4 2021.

For more information visit www.kenera.com