Shiv-Vani Oil bags offshore drilling contract from GUPCO

Shiv-Vani Oil & Gas Exploration Services has bagged offshore drilling contract from Gulf of Suez Petroleum Company (GUPCO), a 50-50 joint venture (JV) owned by British Petroleum and Egyptian General Petroleum Company (EGPC). The drilling contract is for a period of two years extendable by one year, in Gulf of Suez, Egypt.

The company has acquired Ocean Heritage, a jack up offshore drilling rig, through its 100% wholly owned subsidiary based in Singapore, from Diamond Offshore Heritage LLC, an offshore drilling company, of Delaware, USA to deploy with GUPCO to execute the contract.

Shiv-Vani owns the largest fleet of onshore rigs in India and has successfully diversified into other crucial activity areas such as seismic surveying, gas compression services and offshore drilling & logistics.