LONDON (Alliance News) - Greka Engineering & Technology Ltd on Thursday said it has entered into a construction contract with China United Coalbed Methane Corp Ltd, the state-owned Chinese coalbed methane company.
Greka, a service provider for infrastructure projects in the unconventional gas sector in China, said it the contract means it will modify the power facilities of four valve groups for the purpose of connecting and powering 56 China United Coalbed Methane Corp wells.
Under the deal, Greka will be responsible for power line construction and support equipment installation.
Greka must complete the work no later than December 31. It is expected to result in the ongoing supply of power by Greka Engineering to the connected wells.
"With over 1,500 wells ultimately requiring connections to power grids at the GSS block, this represents an excellent growth opportunity for the company, which should both expand our engineering footprint and contribute to the company's profitability this year and beyond," Chairman Randeep Grewal said in a statement.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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