Greka Drilling declares new contract in India

Greka Drilling Limited, an independent and specialized unconventional oil & gas driller in Asia, has recently announced a new contract to provide drilling services to Essar Oil Limited ("Essar") on the Raniganj East Block in West Bengal, India.

Under the new contract, once mobilised, Greka Drilling will provide two of its high quality semi-automated GD75 rigs, that are already situated within country, to drill vertical and directional wells on a day-rate basis (rather than other current contracts where the Company is paid on a metres drilled basis) for the development of Essar’s Raniganj East coal bed methane block. 

The contract is for a period of one year and has an estimated value of around USD 8M. The commencement of drilling operations remains subject to the completion of pre-mobilisation requirements which are currently expected to be complete by end of this quarter.

Previous articleJoint French–Indian Nuclear Cooperation at Jaitapur
Next articleKuwait signs oil export deal with Asian firm