Jindal Drilling & Industries has acquired jack-up rig ‘Jindal Pioneer’ from Discovery Drilling, Singapore, (a joint venture of the company), at a consideration of $75 million. The said acquisition is funded by internal accruals and it shall improve operational synergies, increase scale of operations and profitability of the company. The rig is currently on a bareboat charter.
Jindal Drilling & Industries is one of the leading drilling contractor in India providing service to national and international E&P companies.
