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Essar Oilfields wins drilling contract from GAIL

Mumbai, Feb 21 (IANS) Essar Oilfields Services India Ltd announced on Wednesday that it has won a contract worth Rs 28 crore from state-run gas utility GAIL India to drill three firm and two optional wells in the Cambay Basin in Gujarat.

Drilling for the project is expected to commence in April-May 2018, Essar said in a release here.

"Essar Oilfields Services India Ltd (EOSIL) today (Wednesday) ... has been awarded a Rs 28-crore contract by Gas Authority of India Ltd (GAIL) to drill three firm plus two optional wells in Gujarat's Cambay Basin," it said.

According to EOSIL, the company has signed a series of onshore and offshore drilling contracts in the current fiscal with clients like GAIL, Oil and Natural Gas Corporation Ltd (ONGC), Oil India Ltd and Mercator Petroleum Ltd.

"With projects in the pipeline, the company is expecting to grow its revenue to Rs 400 crore in the financial year 2019, which is 35 per cent more than the current fiscal," the statement added.

--IANS

bc/nir