Essar Oilfield selling four rigs

Vol 17, PW 7 (31 Oct 13) News in Brief

Anyone looking for four land rigs should contact Essar Oilfield Services.

Essar is revamping and modernising its fleet of 15 land rigs, with capacities from 250-hp to 2000-hp, and wants to sell off its older lower capacity rigs, according to a source. “Two are 250-hp, one is 350-hp and another is 550-hp,” he says.

Essar, adds an industry source, might be forced to sell these US-built rigs, dating from the 1980s, at a huge discount because of their age. Essar has one 2000-hp rig working at ONGC's Manepalli field in Andhra Pradesh where it completed a one-well drilling assignment last week.

But the rig has been retained by service contractor BG Shirke for a workover. Essar expects to win contracts soon for two more rigs: one in India, another overseas.

Essar's remaining onland fleet is idle. Essar semi-submersible Essar Wildcat is drilling for ConocoPhillips off Indonesia.

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