Greka Gets Additional CBM Drilling Contracts in China

London-listed unconventional oil and gas driller Greka Drilling has been awarded two new drilling contracts with PetroChina Huabei Oilfield, a subsidiary of CNPC, which are to take place in the Shanxi province, Greka said August 16.

These two drilling contracts are to be deployed in PetroChina's coalbed methane blocks - Fanzhuang and Anze - and will be in addition to one currently in progress. The two new contracts are estimated to have an aggregate value of at least $2mn, Greka said.

The contract for the Fanzhuang block is for one year with a scope of 16 wells consisting of vertical/directional production wells as well as exploration wells.  The drilling is planned to start by the end of the month, and will follow the completion of the six horizontal wells from the previous contract.

The contract for the Anze block is for two years with a scope of at least 10 directional wells to be drilled on two multi-well pads.

In the previously-announced contract consisting of five horizontal wells for PetroChina in the Fanzhuang block, the first well was spudded in February 2017 and four horizontal wells have been successfully completed.  

Shardul Sharma