Deep wins three workover contracts

Vol 18, PW 6 (06 Nov 14) News in Brief

Deep Industries is expecting two workover rigs from Chinese firm SJ Petroleum for deployment to Oil India assets in Assam and Arunachal Pradesh.

“The rigs are en route by ship,” confirms Deep. “They arrive at Jawaharlal Nehru Port this month (November).

” Deep won the Oil India contract in August for two 50-tonne workover rigs at Rs130,000/day ($2100) - the first of three quick succession contracts. Shortly after Diwali (October 23) Deep secured a LoI from ONGC for a 50-tonne workover rig for its Mehsana asset, with a 12-month extension option.

“Once we get the formal LoA,” adds Deep, “we have 60 days to mobilise to Mehsana.” Deep also secured a one-year contract in September (2014) from Cairn for a 30-tonne rig for deployment to RJ-ON-90/1 at Rs125,000/day ($2000) - also with a 12-month extension option.

Deployed in October, Deep’s rig begins Cairn work this month (November). With the two Chinese rigs, Deep’s workover rig fleet now totals eight.

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