Essar Oilfields Services bagged a drilling contract worth Rs.1,125 crore from Gujarat State Petroleum Corporation for drilling in the Krishna-Godavari basin on the east coast.

The scope of work involves drilling up to depths of 5,600 metre and is for a period of two years with an option to extend a year each for two more years. Inorder to execute the contract, Essar Oilfields recently acquired a semi-submersible rig named 'Essar Wildcat'. The rig acquired at a cost of Rs.979 crore is an anchor moored, self-propelled drilling rig suitable for deployment in water depths of 1,350 ft and can be upgraded for deeper waters.

GSPC has also begun drilling in the sixth well, KG 16, at Deen Dayal in the KG basin and the process will take about three months to reach the depth of 5,500 metre. The company is using the recently required rig 'Atwood Beacon' for drilling Well No 16 and this well will be the deepest drilled in the Deen Dayal and the entire KG basin so far.

Also See:

GSPC to invest $1 billion in KG basin (15-Nov-06)