# KMG Drilling & Services acquires 49% stake in KMG Parker Drilling Company

KMG Drilling & Services acquired a 49% stake in KMG Parker Drilling Company, a joint venture with Parker Drilling, to provide drilling services for Karachaganak Petroleum Operating under a contract signed in February 2018. The JV will drill about 20 production and 4 injection wells over three years, starting operations in summer 2018.

- Type: Acquisition
- Announced: 2018-03-14
- Where: Karachaganak field, Kazakhstan
- Jobs: 140
- Status: announced
- Products: drilling services
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [KMG Drilling & Services](https://endata.com/companies/31952.md) (acquirer)
- [Parker Drilling](https://endata.com/companies/31953.md) (partner)
- [KMG Parker Drilling Company](https://endata.com/companies/31954.md) (target)

## Sources

- [nangs.org](https://nangs.org/news/upstream/kmg-parker-drilling-kompani-sozdano-sp-dlya-bureniya-i-skvazhinnykh-operatsij-na-karachaganake), 2018-05-18: "В рамках деятельности КПДК появляется возможность перенять уникальный опыт, знания, технологии и системы управления."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.