Foraco International SA (TSX:FAR), a leading global provider of mineral and water drilling services, announced it has been awarded a major contract with BHP Olympic Dam. This contract is for exploration and evaluation drilling services near Olympic Dam mine complex, involving diamond drilling and is signed for 3 years firm plus 2 optional years extension. It will involve a total of 5 rigs, most of them being remotely operated, and has a total face value of 80 million AUD, or U$ 60 million, excluding options. If the 2 year options are exercised, the face value could reach U$ 90 million.

Read the full press release here: Foraco International wins a major 60 MU$ Deep Directional Drilling Contract with BHP Olympic Dam in South Australia