Foraco International SA announced it has been awarded a major contract with Rio Tinto Iron Ore. This 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 and is signed for 2 years firm plus 3 optional years extension. It will involve a total of 4 rigs and a VWP grout unit, including new proprietary generation of BF800, the NGBF, a 60T pull remotely operated rig which will bring large diameter drilling capacity to the next step in term of intrinsic safety and capabilities.

The contract has a total face value of AUD 111 million, or USD 74 million, including options.