Greka Drilling Eyes More CBM Work in India

Greka Drilling is looking to acquire more contracts in India and is in advanced talks with oil and gas operators to mobilise rigs in the central part of the country during 2017. Currently, in India the company has a contract from Essar Oil to provide drilling for vertical and directional wells on a day-rate basis. In 2016, Greka completed 28 wells in India compared with nine wells in 2015.

Greka drilling rig (Credit: Greka)

While there was a pickup in activity in India, in China, the company witnessed a slowdown as it drilled five wells in 2016 compared with 53 wells in 2015. It completed the limited contract for key client Green Dragon Gas by year end and expects to attain new contracts from this client in 2017, the company said January 18.

Last November, Greka won a new contract from PetroChina to provide drilling for up to five horizontal wells. The rig has been mobilised for two wells and is rigged up on site with the spudding of the first well expected after the Chinese New Year, in mid-February.

With unconventional gas drilling slowing down in its main market of China, Greka is looking at expanding its capability and diversifying operations into the geothermal and work-over market in 2017.  “We expect these two markets will provide the business stability while be complementary to our niche in the coalbed methane sector within China and India,” Randeep S. Grewal, chairman and CEO of Greka Drilling and also CEO of Green Dragon Gas, commented.

Shardul Sharma