Greka to Drill 100 Wells for Essar in Raniganj CBM Block

Greka Drilling and Essar Oil have signed a $65 million contract where Greka will provide turnkey and allied services to Essar in India and drill 100 wells at Raniganj coal bed methane (CBM) block in the Eastern Indian state of West Bengal.

“The current program is to drill a combination of vertical, directional and LiFaBriC wells at the client’s election. Drilling operations are expected to start in the second quarter of 2014 subject to various pre-mobilization requirements being completed with the client prior to yearend,” Greka said in a statement.

Raniganj block is Essar's largest current CBM operation with total area of 500 sq kms. It currently produces about 100,000 SCM (standard cubic meters) of gas per day.

Greka plans to relocate 5 GD75 rigs from its current fleet in China.

“The company has a clear objective of diversifying its client base, geographical operations and drilling completions. This contract achieves all such objectives. We look forward to adding value to Essar’s objectives in producing significant commercial volumes of coal bed methane from its large acreage position in the Raniganj block,” Randeep S. Grewal, Chairman and CEO of Greka Drilling said.

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