London-listed Greka Drilling has won a three-year drilling contract to drill Oil & Natural Gas Corporation‘s Bokaro coal bed methane asset in India.
Greka, which describes itself as the largest independent and specialised unconventional oil & gas driller in Asia, said it would use one of its purpose-built, semi-automated GD75 rigs.
ONGC plans to drill 73 wells over the next three years using the rig.
The project is expected to generate revenues of $15million over the three year period.
Greka chief executive Randeep Grewal said: “Being chosen as a desired partner with one of the world’s largest E&P companies is a momentous occasion for Greka.
“As a market leader with 20 years of experience in coal bed methane drilling we are looking forward to supporting ONGC’s development plan for its Bokaro asset.
“Greka Drilling is also in advanced talks with other oil and gas operators to contract our rigs in India during 2017.
“This coincides with recently announced CBM gas pricing reform by the Indian government and we remain bullish about the prospect of increasing our provision of specialised drilling services within the niche CBM sector in India.”