July 29, 2013 DAFORA AND CHEVRON SIGN 4 YEAR DRILLING CONTRACT
DAFORA S.A., a leader within the Romanian drilling market, is pleased to announce the signing of the Master Onshore Drilling Contract with CHEVRON, one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. DAFORA will provide onshore drilling services for CHEVRON in Barlad area for up to 4 years, starting this autumn. The contract covers drilling the required wells for Chevron’s exploration program.
DAFORA’s Rig 14 will be released soon from an ongoing project and then undergo an upgrade program to fulfill the client’s requirements in terms of asset condition and rig performance.
“Signing new contracts with foreign operators are the result of the company’s strategy and the professionalism of all staff. Linking long-term business strategy with the company ability to adapt to the ever-changing market dynamics demonstrate DAFORA’s good standing in the industry. We are fully committed to acting in the best interests of the company and all its stakeholders to maintain the “Driller of Choice” position in the Romanian drilling market and to extend the market share abroad.”
Leader within the Romanian drilling market, DAFORA performs onshore drilling services for oil, gas and geothermal water, well-testing and workover, transport and maintenance for drilling equipment. Gaining from the vast experience in oil and gas business, we are very proud of our performance in contracting most of the drilling works for the international companies operating in this sector in Romania. The long experience, the guarantee of good services along with our PEOPLE`s qualifications and skills, have led to our services being promoted in the international drilling markets as Tanzania, Uganda, Sudan, Mozambique, Bulgaria, France, Hungary and Israel.
July 2, 2013 The drilling jobs of 2 wells in Israel have commenced
The international market expansion represents one of Dafora’s development strategic directions approached by our company. After a rich experience in different markets such as Africa (Uganda, Tanzania, Sudan, Mozambique), France, Bulgaria, Ukraine and Hungary, Dafora announced it would perform drilling works in Israel for the companies Globe Exploration (Y.C.D.) LP şi Givot Olam Oil LTD. In this respect, the two drilling rigs were inspected by ModuSpec, the global leading expert in ensuring operational integrity of drilling assets and therefore accepted by our beneficiaries. The wells with depths of approx. 5.000 m, respectively 6.000 m are due to run for o minimum periof of 1,5 year, respectively 2 years, with an estimated two years extension. Due to the high potential of the oil field, the chances of extending the contract and of mobilizing new rigs are very high. Economic challenges notwithstanding, the projects in Romania and abroad futher underpin the company’s ability in achieving the development objectives aiming, inter alia, to improve operational efficiency and make our operations more competitive.