Sonatrach Orders New Rigs

Friday, January 23, 2015

Italian rig manufacturer, Drillmec, was awarded an “important” contract by ENTP, a unit of Algeria’s state-owned oil and gas firm Sonatrach. The contract from Sonatrach comes through the European Drilling Rig Alliance (EDRA), a partnership formed by Drillmec, Bentec, and Wirth and calls for the supply of four drilling rigs.

The contract has a total value of $91.3 million and Drillmec’s part of the award is worth $46.75.

Under the contract the rigs will be delivered in two phases, the first scheduled within 11 months and worth $50 million; the second within 18 months and is worth $ 41.3 million.

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