The US is investing in new drilling equipment for rock drilling.
The US Geological Survey has awarded a contract to Siemens for “rock drillers and hydraulic fracturing” to replace its aging equipment.
The contract is for the new, faster-than-normal drilling system that Siemens says can extract up to 7,000 cubic meters per hour, or 3,000 tons per hour.
The USGS says the equipment, which it says will last for up to two years, will be able to drill up to 300 feet deep and up to 1,600 feet tall, as well as up to 2,500 feet underground.
It will also be able, Siemens said, to produce up to 5,000 barrels per day of oil and gas.
According to the contract, the system can extract 5.4 billion gallons of oil equivalent per day.
The contract has been awarded to a company called S-Corp and is expected to be completed in July.
The agency says it expects to complete the system within the first quarter of 2019.
The technology has been around for years, but the USGS said the new system is much faster than the equipment it currently has in use, the C7-9-15-9.
It said the C9-14-15 has been in use since 2013.
Siemens says the new equipment will cost about $1,300 per cubic meter.
“Siemen has a long history of delivering rock drillers in the United States and the world, and we’re pleased to be working with our US counterparts to help improve our ability to perform these crucial tasks,” Siemens’ vice president of business development, Mark Fuhrman, said in a statement.
Siemenses new equipment includes a new drill rig that can drill for more than 30 feet, which the US government says is faster than any other drilling rig in use.
It also has new equipment for drilling sandstone and shale formations, and it has been developing an enhanced version of its C7 system, which is a new way to drill rocks.
The new equipment is not expected to compete with the older Siemens equipment, according to a USGS press release.
A previous Siemens contract also awarded to the US Geological Service for a rock drill was for two years.
This new contract is being announced at a time when the US has been working on a new deal with Iran, which has been ramping up its oil production in recent months.
Iran, in turn, has been pushing for a new oil deal, and this new contract will be part of that effort.
The agreement is likely to be announced in the coming days, according the agency.
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