Essar Oilfields acquires semi-submersible rig at $220 mln

New Delhi, Dec 21 (UNI) Essar Oilfields Services Ltd (EOSL), a subsidiary of Essar Shipping and Logistics Ltd today said it has taken delivery of a semi-submersible rig for 220 million dollars in UK.

The acquisition of the rig is in line with EOSL's plans to gain a significant presence in the contract drilling sector, a company statement issued here said.

''The company has drawn plans to invest over 400 million dollar for acquisition of a diversified fleet of on-shore and off-shore drilling rigs,'' it added.

The rig christened 'Essar Wildcat' is an anchor moored and self-propelled drilling rig suitable for deployment in water depths of 1350 feet and can be upgraded for deeper waters. The rig has a drilling depth capacity of 25,000 feet.

The rig is equipped with top drive, automatic pipe handling systems and rough weather BOP launch system.

With this acquisition, Essar will be among the elite companies that offer high technology deeper water drilling services.

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