12 Aug 2014 09:00
12 August 2014
Greka Drilling Limited
("Greka Drilling" or the "Company")
Greka Drilling rigs arrive in India
Greka Drilling Limited (AIM: GDL), the largest independent and specialized unconventional oil & gas driller in Asia, is pleased to announce that the five GD75 rigs to be utilised for the 100 well drilling contract with Essar Oil have arrived in India.
The Company mobilized five GD75 rigs from its existing fleet which have arrived at the East Coast Haldia Port at Calcutta, India, on schedule. Preparations are now in progress to bring the rigs to Durgapur during August 2014. The first wells are expected to spud in September 2014 and the drilling campaign is expected to last approximately 12 months.
Greka Drilling has already ensured that the infrastructure needed to support this drilling campaign in Durgapur is in place and the training of its local drill teams is nearing completion. Phase I of Greka Drilling's extensive theory training programme for new inductees at the University of Petroleum & Energy Studies, at Dehradun in North India, was successfully completed in July 2014. These inductees will now undertake Phase II practical training at Durgapur. The local teams are being complemented and lead by the experienced veteran Greka Drilling personnel to ensure a successful execution.
Mr. Randeep S. Grewal, Chairman, commented:
"Following the announcement of this important contract win with Essar Oil, we are delighted to announce that the rigs are now in country and that the training of the crews is nearing completion allowing us to start drilling in line with the customer's timing schedule."
For further information on Greka Drilling, please refer to the website at www.grekadrilling.com or contact:
James Henderson / Rollo Crichton-Stuart Investor Relations Bell Pottinger | +44 20 7861 3800 |
Dr Azhic Basirov / David Jones / Ben Jeynes Nominated Adviser Smith & Williamson
| +44 20 7131 4000
| |
| +44 20 7614 5900 | |
Mark Taylor Broker Charles Stanley Securities
| +44 20 7149 6000 |