Canadian drilling rig for Niko Resources
By A Business Correspondent
Niko Resources Ltd has awarded a drilling contract for its Surat Block in India to Precision Drilling (Cyprus) Ltd, a wholly owned subsidiary of Canada's largest drilling company, Precision Drilling Corporation (Precision).
Under the terms of the agreement Rig 709, a semi-automated super single slant rig manufactured in Canada, will drill up to 15 wells for the company on the Surat Block. The rig is likely to arrive in India in August and drilling operations will commence in September. This particular rig has successfully drilled in Canada and Kazakhstan (30 well drilling). It will drill in both vertical and slant modes.
Precision Drilling owns over 250 rigs in Canada, the US, Mexico, Venezuela, Argentina, Brazil and Oman.