Deep Industries Secures INR 59 Crore Contract from ONGC
Filing Summary
Deep Industries Ltd has received a Letter of Award from Oil and Natural Gas Corporation Limited (ONGC) for the hiring of services related to Natural Gas Compressor, Gas Dehydration, and HC Dew Point Depression. The contract pertains to the Malleswaram site of ONGC’s Rajamundry Asset and spans a period of three years. The estimated value of this award is approximately INR 59 crores. This contract is a domestic engagement and does not involve any related party transactions. The award is part of Deep Industries’ regular business operations.
Deep Industries Ltd has announced the receipt of a Letter of Award from Oil and Natural Gas Corporation Limited (ONGC). The award involves the hiring of services for Natural Gas Compressor, Gas Dehydration, and HC Dew Point Depression at the Malleswaram site of ONGC’s Rajamundry Asset. The contract is set for a duration of three years.
The total estimated value of this award is approximately INR 59 crores. The contract is awarded by a domestic entity, ONGC, and is classified as a domestic order. The nature of the contract involves the provision of specific services as outlined in the award details.
There are no interests from the promoter or promoter group of Deep Industries in ONGC, and the contract does not fall under related party transactions. The award is confirmed to be part of the company’s ordinary course of business.
Oil and Natural Gas Corporation Limited is a major player in the oil and gas sector, focusing on exploration and production activities. The company is engaged in various upstream operations, contributing significantly to the energy sector.
Deep Industries Ltd specializes in providing services related to oil and gas exploration and production. The company focuses on enhancing its service offerings in the energy sector, aligning with industry demands and operational efficiencies.