Greka Awarded Drilling Contract in India

Greka Drilling Limited has won contract for coal bed methane (CBM) drilling service in India.

The company will provide drilling services to Essar Oil Limited on the Raniganj East CBM block in West Bengal, India, Greka said in a press note released Monday.

Essar had previously engaged Greka Drilling in late 2013 to provide drilling services on Raniganj East and this contract was concluded in 2015 with a total of 16 wells being drilled. 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 CBM block.  

The contract is for a period of one year and has an estimated value of around $8 million.  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.

Essar is a leading producer of coal bed methane in India.