Greka Drilling Limited Further re Indian Drilling Contract (8934G)
2014年5月13日 - 3:00PM
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RNS Number : 8934G
Greka Drilling Limited
13 May 2014
13 May 2014
Greka Drilling Limited
("Greka Drilling" or the "Company")
Greka Drilling Mobilizes on Essar Contract
Greka Drilling Limited (AIM: GDL), the largest independent and
specialized unconventional oil & gas driller in Asia, is
pleased to announce that following mobilization orders from Essar
Oil Ltd, the US$65 million contract for 100 wells to be drilled for
them in the Raniganj block in West Bengal announced by Greka
Drilling on 16 December 2013 has commenced.
The Company has mobilized 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 mobilized. 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".
For further information on Greka Drilling, please refer to the
website at www.grekadrilling.com or contact:
Betty Cheung, Director Corporate Affairs
Greka Drilling +852 3710 0228
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Dr Azhic Basirov / David Jones / Ben
Jeynes
Nominated Adviser
Smith & Williamson +44 20 7131 4000
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Chris Hardie
Broker
Arden Partners +44 20 7614 5900
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Mark Taylor
Broker
Charles Stanley Securities +44 20 7149 6000
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James Henderson / Rollo Crichton-Stuart
Investor Relations
Bell Pottinger +44 20 7861 3232
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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