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From: Nigel
ArtDate: 9th January 2007
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 87.74.114.115
Date: 27/01/07
Time: 10:22
9th January 2007
Rheochem plc Announces Indian Contract Awards
News Item - Conduit PR
Rheochem plc Announces Contract Awards to Supply Drilling Fluids and Engineering Services in India
Rheochem plc today announces that the Company has received 2 letters of award for the supply of drilling fluids and related engineering services for projects in India. The first is a twelve well ultra short radius drilling (USRD) project in Mahesana , Gujarat and the second is for a fifteen well USRD project in Nazira, Assam.
The contracts are with the Indian service company Hydrocarbon Resources Development Co. Pvt Ltd on behalf of ONGC India and, if proven successful, may be extended on six monthly intervals until November 2008. The initial combined value of these contracts is around US $500,000.
Haydn Gardner CEO of Rheochem said today "These contracts are significant in that they are the first contracts in India and allow the Company to establish itself as a viable competitor in the region. We will be aggressively pursuing other opportunities in this region over the coming year."
Leesa Peters Conduit PR 76 Cannon St London EC4N 6AE Dir: + 44 (0) 20 7429 6600 Office: + 44 (0) 20 7429 6666 Mob: ++ 44 (0) 781 215 9885 Fax: + 44 (0) 20 7429 6699
www.conduitpr.com
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