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Oderco to supply 10 rigs.

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Oderco Oil Equipment Company has bagged a Dh500 million ($136 million) contract to supply 10 onshore rigs to a US-based drilling contractor. "We will be supplying one rig every month, January 2009 onwards. The last rig will be supplied by October next year," Dr Samir Ghalayini, chairman of Oderco, was quoted as saying by the Dubai press. Oderco refused to name the US contractor but said the rigs would be used for drilling in US oil and natural gas fields. The firm manufactures both offshore and onshore rigs and has till date sold nine rigs to buyers in Saudi Arabia, Oman, Kuwait and Singapore. Ghalayini said the contractor had hinted at more orders for rigs on completion of this order.

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Publication:Gulf Industry
Date:Sep 1, 2008
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