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  • Essar Oilfields awarded drilling contract by GAIL
    édité le 21/02/2018 - Plus de news de "Essar" - Voir la fiche entreprise de "Essar"


Essar Oilfields awarded drilling contract by GAIL
Essar Oilfields Services India Limited (EOSIL) announced that it has been awarded a Rs 28-crore contract by Gas Authority of India Limited (GAIL) to drill three firm plus two optional wells in Gujarat’s Cambay basin. Drilling for the project is expected to commence in April-May 2018.

The Company has signed a series of onshore and offshore drilling contracts in FY18 with clients like GAIL, ONGC, Oil India and Mercator Petroleum. With projects in the pipeline, the Company is expecting to grow its revenue to Rs 400 crore in FY19, which is 35% more than the current fiscal.

Mr Rajeev Nayyer, CEO, EOSIL, said: “This contract, the fourth that we have signed this fiscal, yet again validates our credentials as a world-class drilling contractor. Both public and private sector oil majors have intensified exploration activity in India, and they have reposed faith in us for their drilling needs. After having signed back-to-back contracts with clients of this stature, we are poised to bag more such assignments and grow further in the next fiscal.”

EOSIL will be using the Essar Rig MR01 (1000 HP) to drill the wells for GAIL. The MR01 is the latest addition to the EOSIL fleet of rigs and is currently drilling for Mercator Petroleum. After completing this assignment, the rig will be deployed for the GAIL project.

In addition to its 15 land rigs, EOSIL also operates the offshore rig, Essar Wildcat, which is a semi-submersible rig capable of drilling in water depths of up to 1,600 feet and drilling depth of up to 25,000 feet. Since May 2017, this rig has been deployed on a three-year contract with ONGC on the east coast of India.

About Essar Oilfields

The Oilfields Services business provides contract drilling services to oil & gas companies across the globe. The company was incorporated in 2006 with a focus on providing quality onshore and offshore drilling services to domestic, as well as international clients. With a diverse mix of rigs in its fleet, EOSIL continues to win and execute projects for prestigious clients, such as ONGC, Oil India, HOEC, IOC and GAIL. All EOSIL rigs are equipped with advanced equipment and have a proven track record of achieving high drilling efficiencies. The Company also has a pool of talented engineers and managers who have earned the confidence of clients through their ability to find solutions to problems during every stage of the well drilling process.

About Essar Global Fund

Essar Global Fund Limited (EGFL) is a global investor, owning a portfolio of companies that control and operate a number of world-class assets, focused on India, and diversified across the core sectors of Oil & Gas, Steel, Power, Ports, Projects, Shipping, Mining, BPO and other services. The Fund’s portfolio companies have aggregate revenues of about US$15 billion. The Fund is managed by its investment manager, Essar Capital Limited.

About Gail

GAIL (India) Ltd was incorporated in August 1984 as a Central Public Sector Undertaking (PSU) under the Ministry of Petroleum & Natural Gas (MoP&NG). The company was initially given the responsibility of construction, operation & maintenance of the Hazira – Vijaypur – Jagdishpur (HVJ) pipeline Project. It was one of the largest cross-country natural gas pipeline projects in the world. Originally this 1800 Km long pipeline was built at a cost of Rs 1700 Crores and it laid the foundation for development of market for natural Gas in India.


Origine : Communiqué Essar

Voir la fiche entreprise de "Essar"



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