Rs 2,960 Crore Order Book: Oil & Gas Field Services Provider Bags New Order Worth Rs 96.72 Crore from Oil India Ltd

Deep Industries Limited has announced the receipt of a Letter of Award from Oil India Limited for the charter hire of one brand-new Workover Rig. This significant domestic contract, valued at approximately Rs 96.72 crore, will see the rig deployed in Assam and Arunachal Pradesh for a period of seven years. The award underscores Deep Industries Limited's continued partnership with key players in the oil and gas sector and reinforces its position as a vital service provider for exploration and production activities in India.

About the Company

Deep Industries Ltd, incorporated in 1991, specialises in oil and gas field services, focusing on air and gas compression, drilling, workover, and gas dehydration services. The company holds a dominant position in post-exploration services, covering over 70 per cent of the market. Its business segments include the Gas Compression Division, where it is the largest service provider in India, and the Gas Dehydration Division, offering systems on a build, own, and operate basis. The Drilling and Workover Services segment maintains long-term contracts with major PSUs and private companies. Deep Industries also provides integrated project management services, executing turnkey solutions for well drilling and completion.

Deep Industries Limited has a market capitalisation of over Rs 3,200 crore and has a robust order book of Rs 2,960 crore with significant contracts from ONGC and Oil India. The stock is up by 73 per cent from its 52-week low of Rs 298 per share.

Disclaimer: The article is for informational purposes only and not investment advice.