Essar Oilfields Services India Ltd today said it has won a Rs 32 crore contract from state- owned Oil and Natural GasBSE 0.02 % Corp (ONGCBSE 0.02 %) to drill 30 wells at a coal-bed methane (CBM) block in Bokaro, Jharkhand.

Under the one-year contract, Essar Oilfields "will be deploying the MR#11 land rig for the job, which is expected to commence in the next few weeks," the company said in a statement.
Essar Oilfields Services India Ltd (EOSIL), which is close to posting a revenue of Rs 300 crore in the current fiscal, has three of its land rigs currently in operation.

These rigs have been contracted with Oil India and MercatorBSE 0.71 % Petroleum.

Its offshore semi-submersible rig, the Essar Wildcat, is also deployed on a three-year Rs 850-crore contract with ONGC since May 2017, making this the company's second drilling contract with the state-owned oil and gasexploration and production major.

EOSIL is expecting to increase its revenues by a further 20 per cent in 2018-19 because of better deployment of assets, the statement said adding eight of its rigs are likely to be in operation for a range of clients in the upcoming financial year.
Rajeev Nayyer, CEO, EOSIL, said: With increased activity in India's oil & gas exploration sector, our state-of-the-art rigs are well equipped to help boost domestic crude production, thus ensuring the country's energy security."

here is company details.

 

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