Greka Drilling Secures 3-Year Drilling Deal with ONGC
Greka Drilling Limited, an independent oil and gas driller in Asia, has secured a three year drilling contract with Oil & Natural Gas Corporation Limited (ONGC) for the Bokaro CBM asset in India.
Under the deal, Greka will deploy one of its purpose-built rigs in the country. ONGC plans to drill 73 wells over the next three years using this rig, which has a proven track record of drilling in similar geological conditions, according to Greka.
The project will entail the provision of drilling and mud services, along with the provision of associated equipment, and is estimated to generate total revenues of $15 million over the three year period.
"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,” Randeep S. Grewal, chairman and CEO of Greka Drilling, said in a company statement.
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