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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