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Essar Oilfields wins order from ONGC worth Rs.32 crore

Essar Oilfields Services India Ltd, has received a contract from ONGC to drill 30 wells at a coal-bed methane (CBM) block in Bokaro, Jharkhand.

The company in a statement said that, under the one-year contract, Essar Oilfields “will be deploying the MR#11 land rig for the job, which is expected to commence in the next few weeks.”

Essar Oilfields Services India Ltd CEO, Rajeev Nayyer stated, “With increased activity in India’s oil and gas exploration sector, our state of the art rigs are well equipped to help boost domestic crude production, thus ensuring the country’s energy security.”

Read EquityPandit’s Technical Analysis of Nifty Energy Outlook for the Week 

 

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