NEW DELHI: Essar Oilfields Services India Ltd today said it has won a Rs 32 crore contract from state- owned Oil and Natural Gas Corp ( ONGC ) to drill 30 wells at a coal-bed methane (CBM) block in Bokaro, Jharkhand.Under the one-year contract, Essar Oilfields "will be deploying the MR#11 land rig for the job, which is expected to commence in the next few weeks," the company said in a statement.Essar Oilfields Services India Ltd (EOSIL), which is close to posting a revenue of Rs 300 crore in the current fiscal, has three of its land rigs currently in operation.These rigs have been contracted with Oil India and Mercator Petroleum.Its offshore semi-submersible rig, the Essar Wildcat , is also deployed on a three-year Rs 850-crore contract with ONGC since May 2017, making this the company's second drilling contract with the state-owned oil and gas exploration and production major.EOSIL is expecting to increase its revenues by a further 20 per cent in 2018-19 because of better deployment of assets, the statement said adding eight of its rigs are likely to be in operation for a range of clients in the upcoming financial year.Rajeev Nayyer, CEO, EOSIL, said: With increased activity in India's oil & gas exploration sector, our state-of-the-art rigs are well equipped to help boost domestic crude production, thus ensuring the country's energy security."

Source: Economic Times January 24, 2018 09:45 UTC