Greka signs $65m drilling deal with Essar Oil

Greka Drilling Limited, the largest independent and specialized unconventional oil and gas driller in Asia, announced on Wednesday that it has signed a $65 million contract to provide turnkey and allied services to India-based Essar Oil.

According to the contract, Greka will drill 100 wells, with work due to be completed by the end of 2014.

China-based Greka has been involved in the production of coalbed methane gas and the distribution and sale of wholesale gas in China, cooperating with top domestic players like the China National Petroleum Corporation and the China United Coalbed Methane Corporation Ltd.

Under the new contract with Essar Oil, Greka plans to relocate five rigs from its current fleet in China to meet the client's desire to start drilling as soon as possible.

The company said the deployment of these rigs will not affect ongoing drilling operations for customers in China during 2014.

dujuan@chinadaily.com.cn