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Current Project Work

IROilRigs Int'l Ltd. has an existing asset base of owned and managed oilrigs whose power capacities range across 340hp SCR land rig. The company participates in oil exploration and well workover projects through a number of options:

- As the leasor of its oilrig inventory on a short or long term basis, for well work-over or deep-well exploration projects.

- As a turnkey drilling contract operator providing total turnkey services (from spud-in to production) on a unique and low cost "per meter" pricing structure.

- As a project investor on a cost recoverable and equity, or uplift, sharing participant basis.

IROilRigs is also able to supply for sale a complete range of oilrigs and related oilfield equipment on a straight sale or lease purchase scheme. Lease purchase arrangements are typically based on an initial deposit, regular monthly "day rate" accumulation and lump sum final settlement terms.

IRO PROJECT EXPERIENCE

1997-2002

PROJECT NAME

YEAR

WELL-DEPTH

PROJECT DESCRIPTION

1. CREST PETROLEUM -
SAMARAHAN ORMAA OILFIELD, UZBEKISTAN

1997
6 WELLS
3,000-3500M

TURNKEY DRILLING. UZBEKISTAN MINISTRY OF OIL/LAND & MALAYSIA OIL COMPANY.

2. PT. CALTEX -
INDONESIA WORKOVER PROJECT.

1998
330 WELLS
2 YEARS WORK OVER CONTRACT.

3. KONDOR PETROLEUM - SUMATRA

1999
5 WELLS
1,000-2,000M
DRILLING PROJECT AND INTEGRATED SERVICES.
4. PERTAMINA - JAMBI
2000
5 WELLS
1,200-2,500M 2 WELLS
2500M +
30 WORKOVER WELLS
HORIZONTAL DRILLING. & WORKOVER
5. CALTEX - MINAS
2001
20 WELLS
WORKOVER DEPTHS UP TO 1,200M
WORK OVER & WELL SERVICES.
6. SEMCO - SAMARINDA
2001
2 WELLS
UP TO 2,500M
DRILLING CONTRACT.
7. LAPINDO BRANTAS - EAST JAVA
2001
3 WELLS
1,100-1700M
DRILLING CONTRACT.

8. PERTAMINA - CIREBON

2002
6 WELLS
3,000 - 4,000M
4 WELLS
2500-2800M
DEVIATED DRILLING CONTRACT.
INTEGRATED SERVICES CONTRACT
PROJECT DURATION - 20 MONTHS, STILL IN OPERATION.
COMPLETED FIRST WELL IN CONTRACT TIME.
RECEIVED SAFETY AWARD FOR NON-ACCIDENTAL DURING PROJECT.

 

 

 

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