About Jindal drilling rig in uganda
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6 FAQs about [Jindal drilling rig in uganda]
Who is Jindal drilling & Industries Ltd?
Jindal Drilling & Industries Ltd (JDIL) is a service provider in the upstream segment of the offshore oil & gas industry. The company provides rigs on charter hire basis to ONGC (which is its sole client as of date). The Co. is part of the DP Jindal group which also operates Maharashtra Seamless Ltd.
How many jackup rigs does Jindal drill?
JDIL operates 5 jackup rigs which are currently with ONGC. A jackup rig is a specific type of an oil rig which drills oil from the earth’s surface. These rigs can be located either on land (onshore) or water (offshore). Jindal Drilling has a fleet of jack up rigs dedicated to offshore drilling which extracts oil from shallow water ocean beds.
Who owns Jindal pioneer rig?
Purchase optionality in Jindal Pioneer: Jindal Pioneer is owned by JDIL’s JV entity Discovery Drilling where Jindal owns a 49% share of the JV. The rig is currently on rent with Saipem and is deployed in Mexican waters at a bareboat charter of $35k per day which will increase to $40k by Jan 2025.
How much EBITDA will flow into Jindal Supreme?
Jindal Supreme is one of JDIL’s two owned assets. Under its earlier contract of $40,700 the company clocked an EBITDA margin of 10%. So almost all the incremental EBITDA from the new rate will flow to JDIL’s bottomline. I estimate ~40 Crs worth of EBITDA flowing into JDIL.
How will Jindal Supreme's new contract affect ONGC?
Under the new contract, JDIL has been rented out at a fixed day rate of $88,859 to ONGC compared to an earlier rate of $40,700. Jindal Supreme is one of JDIL’s two owned assets. Under its earlier contract of $40,700 the company clocked an EBITDA margin of 10%. So almost all the incremental EBITDA from the new rate will flow to JDIL’s bottomline.
How many jack-up rigs are there in India?
As of August 2024, there are 37 contracted jack-up rigs operating in Indian waters, the majority of which are contracted by ONGC. Of these, 32 rigs are leased by ONGC from third-party providers like Jindal Drilling, while 5 are owned and operated directly by ONGC.