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Greka Drilling Set To Start Work On Essar Oil Project In India

Wed, 20th Apr 2016 09:44

LONDON (Alliance News) - Asia-focused oil and gas drilling services company Greka Drilling Ltd on Wednesday said the rigs for its Essar Oil Ltd contract have been mobilised.

Greka signed a year-long contract with Essar in February worth around USD8.0 million. Greka will supply two semi-automated GD75 rigs for a period of one year, which will be used to drill vertical and directional wells.

The rigs are to be used at Essar's Raniganj East Block coal-bed methane project in West Bengal.

Greka Chairman and Chief Executive Randeep Grewal said the company was pleased to be starting work on the Essar project and is holding talks with other coal-bed methane developers in India.

Greka Drilling shares were untraded on Wednesday, having last traded at 4.05 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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