Essar Oilfields commences drilling contract with Mercator Petroleum

12/27/2017

MUMBAI -- Essar Oilfields Services (India) Limited (EOSIL) has announced that it has commenced a contract awarded by Mercator Petroleum to drill two firm oil wells, plus one optional oil well in the Cambay basin. With the company commencing a few other drilling contracts in this fiscal, EOSIL is expecting to clock revenues of $48 million in this fiscal.

Essar Rig MR01 (1000 HP), the latest addition to the EOSIL fleet of rigs, has started drilling the first well for Mercator. A trailer-mounted mechanical rig that is capable of drilling up to a depth of 11,000 ft, it has proved to be an outstanding performer during its six exploratory well contracts with Bharat Petro Resources Limited, which were part of its previous assignment. 

In addition to its 15 land rigs, EOSIL also operates the offshore rig, Essar Wildcat, which is a semisubmersible rig capable of drilling in water depths of up to 1,600 ft and drilling depth of up to 25,000 ft. Since May 2017, this rig has been deployed on a three-year contract with ONGC on the east coast of India. After completing its work program in the first location, it is currently at ONGC’s second location and is drilling a deeper exploratory well.

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