Essar Oilfields Services India Limited (EOSIL) has been awarded a Rs 28-crore contract by Gas Authority of India Limited (GAIL) to drill three firm plus two optional wells in Gujarat’s Cambay basin. Drilling for the project is expected to commence in April-May 2018.
The Company has signed a series of onshore and offshore drilling contracts in FY18 with clients like GAIL, ONGC, Oil India and Mercator Petroleum. With projects in the pipeline, the Company is expecting to grow its revenue to Rs 400 crore in FY19, which is 35% more than the current fiscal.
EOSIL will be using the Essar Rig MR01 (1000 HP) to drill the wells for GAIL. The MR01 is the latest addition to the EOSIL fleet of rigs and is currently drilling for Mercator Petroleum. After completing this assignment, the rig will be deployed for the GAIL project.
