Online edition of India's National Newspaper
Tuesday, Apr 22, 2008
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Online edition of India's National Newspaper Tuesday, Apr 22, 2008 ePaper | Mobile/PDA Version |
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CHENNAI: SAAG RR, engaged in the execution of infrastructure projects, has made its foray into the oil and gas sector by securing orders from ONGC for charter hire of two offshore modular workover rigs. Addressing presspersons here on Monday, R. Sriram, Managing Director, SAAG RR, said the contract value was about Rs. 288 crore for three years. The company, in technical collaboration with SAAG Drilling and Well Services, will provide and operate these rigs which will improve the efficiency and productivity of oil wells. Anand Subramanian, Group CEO, SAAG Consolidated, Malaysia, said, the group had established presence over three decades in the oil and gas sector in Southeast Asia. He said the business potential for workover rig services was quite large as there was need for oil companies to increase production.
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