Precision Drilling to Build Platform Rig Offshore India

Precision Drilling Corporation has been awarded a contract to fabricate, mobilize and operate a new-build platform drilling rig offshore India.

The contract, awarded by Niko Resources Ltd of Calgary, Alberta will require drilling up to 28 wells from a newly built steel platform owned by the joint venture on the Hazira Block offshore, West Coast of India. The contract drilling will commence first quarter 2004. This will be the second drilling rig that Precision Drilling International has operating in India having commenced operations in September 2002 with its Super Single Rig 709 land drilling rig, also in the Gujarat State.