Deep Industries Secures ₹82 Crore Rig Contracts with ONGC

Deep Industries Limited has clinched a major deal with Oil and Natural Gas Corporation Limited (ONGC), securing Letters of Award (LOAs) worth ₹82 crores. This contract involves the charter hiring of workover rigs, marking a significant boost for the company.

Under the new agreement, Deep Industries will provide ONGC with two workover rigs: a 100MT rig stationed in Tripura and a 150MT rig based in Rajahmundry. Each rig will be deployed for a period of three years, underscoring the long-term nature of this deal.

The total value of these awards is estimated at around ₹82 crores, reflecting the scale of this lucrative contract. This substantial addition to Deep Industries' portfolio emphasizes its strong presence and expanding role in the oil and gas sector.

This development reinforces Deep Industries’ ongoing partnership with ONGC and highlights their commitment to bolstering operational capabilities in critical regions. The successful securing of these LOAs signals continued growth and operational expansion for the company.

Overall, this contract is a testament to Deep Industries' solid reputation and its ability to meet the demanding needs of major industry players like ONGC.

News by Rahul Yelligetti