Greka Drilling Limited ONGC Contract Execution (6863W)
16 November 2017 - 7:26PM
UK Regulatory
TIDMGDL
RNS Number : 6863W
Greka Drilling Limited
16 November 2017
16 November 2017
Greka Drilling Limited
("Greka Drilling" or the "Company")
ONGC Contract Execution
Greka Drilling Limited (AIM: GDL), the largest independent and
specialized unconventional gas driller in Asia, is delighted to
announce that, further to the announcement on 16 June 2017, it has
entered into a three year drilling contract with Oil and Natural
Gas Corporation Limited (ONGC) for its Bokaro CBM asset in
India.
The project will entail the provision of drilling and mud
services along with the provision of associated equipment and is
estimated to generate total revenues of at least US$15 million over
the three year period.
Randeep S. Grewal, Chairman & CEO of Greka Drilling,
commented:
"I am pleased to announce that Greka Drilling has signed the
contract with ONGC for the drilling of their wells at Bokaro in
India. This contract consolidates our market position in both China
and India and our strategic deployment of custom built state of the
art CBM specific rigs in two of the biggest energy growth markets
in the upcoming decade.
Greka Drilling will contribute significantly to the realisation
of the Government of India's vision for environmentally friendly
energy security cutting down Green House Gas emissions by exploring
the unconventional resources in a quest for Clean Energy in the
market.
This contract has affirmed our position in developing a cleaner
energy future for the next generation".
For more information on Greka Drilling, please visit the
Company's website at www.grekadrilling.com or contact:
Smith & Williamson
Nominated Adviser and Broker
Azhic Basirov / David Jones +44 (0) 20 7131
/ Ben Jeynes 4000
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTUNUWRBUAAARA
(END) Dow Jones Newswires
November 16, 2017 03:26 ET (08:26 GMT)
Greka Drilling (LSE:GDL)
Historical Stock Chart
From Apr 2024 to May 2024
Greka Drilling (LSE:GDL)
Historical Stock Chart
From May 2023 to May 2024