South West Pinnacle Exploration Limited (SWPE), an integrated end-to-end Drilling & Exploration service provider across all natural resources, has recently been awarded extension of Contract for CBM production from Reliance Industries Ltd (RIL), with tentative estimated duration of 15 months for production of Multi-Lateral hole drilling for Coal Bed Methane (CBM) in the State of Madhya Pradesh valuing over Rs. 166.82 Crores.
The present extension has potential for further extension, therefore total contract value has potential to go up even further.
SWPE has successfully completed two projects of RIL in the same domain in the past and is successfully providing CBM Production services under this contract . With the present order win, our order book has made quantum jump surpassing Rs 760 Crore thus giving assured growth visibility over next two to three years.
Commenting on this development, Mr. Vikas Jain, Chairman & Managing Director said, “I am pleased to announce about the extension of contract done by Reliance Industries Ltd. (RIL) for production hole drilling for CBM, valuing over Rs, 166 Crore with 15 months tentative duration and an option of further extension of six months. Bagging such a large contract from a prestigious client is very significant achievement. The best part is that no additional assets are needed to be deployed for execution of contract “, Mr Jain elaborated. “ With this, the order book will touch a newer height crossing Rs.760 Crore mark , giving clear visibility to our medium to long term goals”, Mr Jain explained. “CBM production is a non-conventional Oil and Gas source of energy and a step towards Atma Nirbhar Bharat to cater our energy needs” he added.
Mr. Piyush Jain, the Jt. Managing director, who was deeply involved into negotiation and finalization of the contract extension, expressed his confidence for successful implementation of the contract and added that” the contract extension shall help in continuing the present operations without a single day loss of operation on account of mobilization of resources etc. and will start fetching revenue for the company from the second quarter of FY 2026-27 itself,” . He thanked the entire team of SWPE for their dedication and hard work, a nd also other stakeholders involved in the project .
