French Dietswell Sees $1.0 Mln Monthly Revenue in Sudan
French Dietswell Sees $1.0 Mln Monthly Revenue in Sudan
172 words
8 January 2008
French News Digest
English
(c) 2008 AII Data Processing Ltd. All Rights Reserved.
French drilling services provider Dietswell Engineering expects to generate a monthly revenue of $1.0 mln (684,000 euro) from a drilling project in Sudan, the company said on January 8, 2008.
The drilling contract was signed with White Nile (5B) Petroleum Operating Company Ltd (WNPOC), a joint operating company owned by Malaysian oil and gas company Petroliam Nasional Berhad (PETRONAS) and Sudan’s state-owned oil firm Sudapet.
At the end of November 2007, the French company delivered its light-weight land drilling rig RCR1200, entirely designed and developed by Dietswell. The initial investment in the equipment amounted to 11 mln euro ($16.1 mln).
Through the design and marketing of the machine, the company proved its capacity to develop innovation technology for the oil drilling sector, Dietswell said.
The implementation of the project is expected to have a positive impact on Dietswell’s financial results from the second half of 2007 onwards.
— –
DIETSWELL, independent specialist services-drilling wells, announces the start of drilling contract with the consortium WNPOC in Sudan.
The aircraft RCR1200 entirely designed and built by DIETSWELL, was delivered at the end of November last year, enabling the immediate commencement of drilling operations.
The contract drilling operations for the consortium WNPOC, generate a monthly turnover exceeds $ 1 million US, and positively impactera turnover and profitability from the 2nd half of 2007.
The client has already exercised a first option contract giving visibility until October 2008.
The initial investment of 11 million euros for this device, which will remain the property of DIETSWELL, was financed by equity.
The construction and marketing of this device have been a major event for DIETSWELL in 2007, proving its ability to develop innovative technologies with high added value for oil drilling.
http://www.boursorama.com/infos/actualites/detail_actu_societes.phtml?&symbole=1rEPALDIE&news=5003552