Unconventional oil and gas driller Greka Drilling has secured two new contracts in China from two companies.
Greka signed a turnkey contract with Greka Guizhou E&P (GGZ) and another with China National Petroleum’s (CNPC) subsidiary Bohai Drilling Engineering Company (BDE).
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Under the $4.9m GGZ contract, the scope of work comprises site preparation, supply of all tangibles, services and drilling needed to complete 12 wells.
As part of the programme, two multi-well pads with one vertical and five directional wells will be drilled on each pad to an average depth of 850m.
Earlier this year, Greka secured three contracts from CNPC.
Greka Drilling chairman Randeep Grewal said: “In a strengthening China coal bed methane (CBM) market, Greka Drilling, with our advanced GD75 CBM specific rigs, is being seen by many operators as the drilling company of choice.
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By GlobalData“With the current contracts in hand, we expect to be utilising seven rigs by the year-end in China. The signing of the strategic contract with Bohai is a significant event which is expected to evolve into a long-term relationship between the two companies and create many opportunities for Greka Drilling as state-owned companies continue to ramp up their CBM drilling projects.”
CNPC has appointed BDE as the principal drilling company for drilling all horizontal wells.
Under the BDE contract, Greka will act as a subcontractor to BDE.
Greka will offer its CBM purpose built GD75 rigs, equipment and expertise to BDE to complete horizontal wells over two years with a minimum commitment of $4.2m.
