Greka Drilling Limited, Asia's largest independent unconventional oil and gas driller, was awarded two new drilling contracts with PetroChina Huabei Oilfield Limited, the company announced on Wednesday.
The two drilling contracts are to be deployed in PetroChina's coal bed methane blocks, Fanzhuang and Anze located in the Shanxi province of northern China, which are estimated to have an aggregate value of at least $2 million.
The contract for the Fanzhuang block, planned to start by the end of August, is for one year with a scope of 16 wells consisting of vertical and directional production wells as well as exploration wells.
The contract for the Anze Block is for two years with a scope of at least 10 directional wells.
"The government's steadfast support for the development of the coal bed methane resources is the catalyst to enable the revitalization of the sector," said Randeep Grewal, chairman of Greka Drilling.
By Zeynep Beyza Kilic
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