GTC adds two new rigs to its fleet

Vol 23, PW 2 (14 Nov 19) News in Brief

Onland drillers are rapidly expanding their fleets as new orders pour in.

Take Ahmedabad-based GTC Oilfield Services, which by October 31, had added two new 1000-hp rigs to its fleet, following the example set by Aakash Exploration which added five rigs to its fleet by end-July, as reported in our August 8 (2019) edition. GTC would not confirm the size of its fleet but an industry source puts the figure at 12 rigs of between 350-1000-hp capacity.

GTC's new rigs have been named GTC-1000-1 and GTC-1000-2. A source tells us a new 1000-hp rig would have cost GTC up to Rs40cr ($6m).

GTC-1000-2 has been hired for three years by Baker Hughes and is on its way to Barmer to work on a Cairn India contract to drill 300 new wells across the Mangala, Bhagyam and Aishwariya (MBA) fields. By mid-October, the rig had reached Sanand outside Ahmedabad.

"The rig started its journey to Barmer in the first week of November," we hear. "GTC bought this rig from Drillmec."

GTC-1000-1 has begun a three-year contract with ONGC’s Ahmedabad asset where average production is around 26,000 b/d. "The rig has reached (the) Nawagam (field)," adds a GTC source.