Essar Oilfields Wins Contract from Gujarat State Petroleum

Essar Oilfields Services Limited (EOSL) has been awarded a drilling contract from Gujarat State Petroleum Corporation Ltd (GSPC) for drilling in the Krishna Godavari (KG) basin offshore India's east coast.

The contract for Essar Wildcat is for a period of two years with a contract value of $250 million. The contract also contains provisions for two 1-year options.

The recently acquired Essar Wildcat is a rated to work in water depths up to 1,350 feet and can be upgraded for deeper waters. The rig has a drilling depth capacity of 25,000 feet and is equipped with top drive; automatic pipe handling systems and rough weather bop launch system.

The contract will enable Essar to re-establish itself as a globally preferred drilling contractor. Essar has considerable experience and a proven track record in contract drilling services. It was the first Indian company to offer contract drilling services in 1985 for both onshore and offshore exploration and production activity.

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