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Arrow Energy buys additional CSG rigs

Oilfield Technology,

Arrow Energy has signed a US$ 135 million drilling agreement that will deliver four new hi-tech CSG rigs and related drilling technology that will create more than 100 new jobs across Queensland.

The all-purpose rigs will significantly improve the efficiency and consistency of directional drilling using innovative technology that allows the rig to be remote controlled.

They will be supplied by Australian-based Sirius Well Manufacturing Services (SWMS), a new joint venture company formed jointly by Arrow’s parent company Royal Dutch Shell and with China National

Petroleum Corporation (CNPC).

Arrow CEO Andrew Faulkner said Sirius would deliver significant long-term advantages for Arrow.

“SWMS will strengthen Arrow’s drilling and production future and deliver widespread efficiencies for the life of Arrow’s project. We also expect these rigs to help further reduce Arrow’s operational footprint, which is part of our ongoing commitment to coexistence with agriculture.” Mr Faulkner said.

SWMS CEO Hu Xin Feng said Sirius was a significant technology investment that would improve the performance of CSG rigs.

SWMS will oversee the building and operation of the rigs. They expect to deliver four bespoke rigs in 2013 and ramp up that figure considerably by 2015 with an associated support workforce of about 400 staff.

Adapted from press release by Peter Farrell.

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