Mercator Petroluem awards contracts to Essar Oilfields

Mercator Petroluem awards contracts to Essar Oilfields

Essar Oilfields Services has announced bagging three drilling contracts from Mercator Petroleum in the Cambay Basin.

The contracts involve drilling two new oil wells and an optional well in the Cambay Basin. With these, the company expects to clock USD 48 million in revenue this financial year.

Essar Oilfields Services chief executive Rajeev Nayyer said, “these contracts bear testimony to our 25-year expertise in the contract drilling business that is backed by world-class assets. This contract will add substantially to our top line growth which we expect to touch USD 48 million this fiscal.”

Essar Oilfields was set up in 2006 with a focus on providing quality onshore and offshore drilling services to domestic, as well as international clients.

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Author: Research Desk