Shiv Vani Oil bags major ONGC contract

Mumbai, May 27: Shiv Vani Oil&Gas Exploration Services has bagged an over Rs 900 crore ONGC contract for providing integrated services for development of the Central Parbatpur project (part-I of the project) in drilling, completion and testing of pilot wells in Jharia, Karanpura, and North Bokaro (part-II of the project) CBM blocks of ONGC.

In a communique to the Bombay Stock Exchange (BSE), the company informed that the primary duration of the contract to Shiv Vani Oil, in consortium with the US-based Express Drilling Systems, LLC, Dallas, and Nagpur-based Mineral Exploration Corporation, is 43-months, including a year for well maintenance.

The total value of the contract is about Rs 931.38 crore,the release said.

Express Drilling Systems is the leader of the consortium as it has the experience in drilling multilateral in-seams under-balanced horizontal CBM wells, as required by the ONGC's relevant notice for invitation of tender, the release added.

UNI