2023-04-13 08:16:38 ET
- Foraco International ( OTCPK:FRACF ) on Thursday has been awarded a major contract with Rio Tinto Iron Ore, with total face value of AUD 111M, or $74M, including options.
- The contract is for water related drilling services in the Pilbara region, involving both monitoring wells, dewatering wells and vibrating wire piezometers digital networks installation, mostly with flooded reverse circulation rigs.
- The project is signed for 2 years firm plus 3 optional years extension.
-
It will involve a total of 4 rigs and a VWP grout unit, which will bring the large diameter drilling capacity to the next step in term of intrinsic safety and capabilities.
For further details see:
Foraco International bags $74M water drilling services contract with Rio Tinto Iron Ore in Australia