Essar Oilfields Services Limited (EOSL) has been awarded a drilling contract from Gujarat State Petroleum Corporation Ltd (GSPC) for drilling in the Krishna Godavari (KG) basin offshore India’s east coast.

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.

This entry was posted on Tuesday, January 9th, 2007 at 4:49 am and is filed under Mining Services, Oil and Gas. Tags: Company, drilling services, east coast, Gujarat, Gujarat State Petroleum Corporation, India, Krishna, Oil, Petroleum, Water, . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.