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PNG Drilling Company has successfully completed the construction of seven wells for RITEK-Samara JSC (LUKOIL Group).

17.11.2014

PNG Drilling Company has successfully completed ahead of schedule and with high work quality the construction of seven wells of about 22 000 meters total depth for RITEK-Samara JSC (LUKOIL Group), having exceeded the expectations of the Customer. In the letter addressed to PNG Drilling Company CEO Mr. Zamir M. Abdullaev, RITEK-Samara JSC has underlined professionalism, responsibility, high management skills of PNG Drilling Ltd specialists, working in strict compliance with industrial safety and operating the most advanced mobile drilling rigs.

The total outrunning of schedule achieved by PNG Drilling Co within wells construction for RITEK-Samara JSC has amounted to app.170 days comparing to the Contract.

Commenting on the results of the drilling works realized for RITEK-Samara JSC, the CEO of PNG Drilling Co Mr. Zamir M. Abdullaev has noted: ”In despite of our relatively higher daily rates in comparison with the other LUKOIL’s contractors, our company has ultimately provided its Customer with more savings resulted from a lower final cost of the wells construction. It is difficult to overestimate the economic importance of the revenue resulted from the realization of crude oil produced by wells on operation during 170 days, saved within the drilling works. It's almost six months of additional oil production for our Customer!”

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