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Greka Drilling sends rigs to Indian onshore play

14th May 2014

Greka Drilling has mobilised five rigs to travel from China to India to fulfil its USD 65m contract with Essar Oil to drill 100 wells in the Raniganj block in West Bengal

Greka Drilling sends rigs to Indian onshore play
Allowing for shipping and related logistics, the first wells are expected to spud in September 2014

Greka has mobilised five GD75 rigs from its existing fleet which are currently at the port in Tianjin, northern China. Allowing for shipping and related logistics, the first wells are expected to spud in September 2014. Over the course of the coming quarter accessory equipment and crews will also be mobilised. The drilling campaign is expected to last between 10 to 12 months.

The deployment of these rigs will not affect current drilling programmes for customers in China.

Mr. Randeep S. Grewal, Chairman, commented: “Following the announcement of this important contract win with Essar Oil, we are delighted to have received mobilization orders to commence the drilling. The expertise we intend to provide to companies such as Essar Oil is being recognized across the sector and we look forward to starting drilling operations as soon as possible.

“The contract itself is important to Greka Drilling as it cements our intention to diversify the Company’s client base, geographical strata and drilling operations. It is also worth noting that this contract and activity in India gives Greka Drilling an excellent foundation to further expand its services into the highly prospective and scalable Indian unconventional gas market”.

Greka Drilling is the largest independent and specialised unconventional oil and gas driller in Asia.

The Raniganj Block is located in the Damodar Valley coal field in the Raniganj region of West Bengal. It has current test production of around 22,000 scm/d of gas. The total proven and probable reserves (2P) at Raniganj, evaluated as at 1 September 2011, are 113 billion cubic feet (bcf) gross, or 18.8 million barrels of oil equivalent (mmboe), while best estimate contingent resources (2C) are 445 bcf gross, or 74.1mmboe.

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