Greka Drilling Limited (AIM: GDL), the largest independent and specialized unconventional oil & gas driller in Asia, is pleased to announce a new contract to provide CBM drilling services to PetroChina Huabei Oilfield Limited ("PetroChina") in the Fanzhuang Block in Shanxi Province, China.
Greka Drilling successfully drilled 13 wells (involving 19,257 metres) for PetroChina from 2013 to 2015 and is pleased to be awarded this contract for up to 5 horizontal wells. The new contract is for a period of one year. Drilling operations are expected to commence shortly.
Randeep S. Grewal, Chairman and CEO of Greka Drilling, commented:
"The winning of this 5 horizontal well contract proves once again that PetroChina recognizes Greka Drilling as a quality drilling company with advanced rig technology and experienced crews. PetroChina is also expected to commence a 100 cluster wells drilling project in Anze Block in 2017, which represents a significant further opportunity for us. Following an expected slow 2016, we are hopeful that 2017 will be a busy and fruitful year for Greka Drilling in China."