Oil & Gas Drilling Company Seeking Loan in Madang, Papua New Guinea
Established | 40-50 year(s) |
Employees | 5 - 10 |
Legal Entity | Private Limited Company |
Reported Sales | USD 117 thousand |
Run Rate Sales | USD 280 thousand |
EBITDA Margin | 10 - 20 % |
Industries | Oil & Gas Drilling + 1 more |
Locations | Madang |
Local Time | 9:38 PM Pacific / Port Moresby |
Listed By | Business Owner / Director |
Status | Active |
- Since the new management has been trying to acquire Petroleum Development Licence but has not succeeded due to lack of funds.
- Now the company has only participated in a handful of water boring contracts with the local level government and local business houses.
- Recently we completed a sub-contract to do road and bridges geotechnical drilling on the Highlands Highway.
- The business has experienced high growth due to the new contracts and jobs received in this financial year.
- Currently, the business earns the majority of its revenue from geotechnical drilling & bore water drilling.
- The oil and gas drilling has not been started yet.
- The typical duration of a drilling contract is 1-3 months.
The company has some bank loans and outstanding liabilities.
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Earlier than 15 daysOperations Engineer, Oil And Gas, Kuwait City, Individual Investor / Buyer connected with the Business
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Earlier than 15 daysSr Drilling Supervisor, Oil & Gas, British Columbia, Individual Investor / Buyer connected with the Business