United Drilling Tools Secures Rs. 3.72 Crore Order from ONGC
Filing Summary
United Drilling Tools Ltd. has received a domestic order from Oil and Natural Gas Corporation Limited (ONGC) for the supply of Large OD casing pipes. The order, valued at approximately Rs. 3.72 crore, is to be executed within 5-6 months. This transaction does not involve any related party interests. The order is part of United Drilling Tools’ regular business operations. The company specializes in manufacturing and servicing oil drilling equipment, focusing on expanding its market presence in the oil and gas sector.
United Drilling Tools Ltd. has announced the receipt of an order from Oil and Natural Gas Corporation Limited (ONGC) for the supply of Large OD casing pipes. This order is valued at approximately Rs. 3,72,78,000 and is classified as a domestic commercial contract. The execution period for this order is estimated to be between 5 to 6 months.
The order from ONGC is a domestic transaction and does not involve any related party transactions. The company has confirmed that there is no interest from the promoter or promoter group in this order. The transaction is conducted at arm’s length, adhering to the regulatory requirements outlined by the Securities and Exchange Board of India (SEBI).
The order falls under the ordinary course of business for United Drilling Tools, which specializes in the manufacturing and servicing of oil drilling equipment. The company is focused on delivering high-quality products to its clients in the oil and gas sector, aiming to fulfill the requirements of its domestic clientele.
Oil and Natural Gas Corporation Limited is a major player in the oil and gas industry, focusing on exploration and production activities. The company is involved in various projects aimed at enhancing energy security and meeting the growing energy demands.
United Drilling Tools Ltd. is engaged in the manufacturing and servicing of oil drilling equipment. The company prioritizes expanding its market presence and delivering reliable products to its clients in the oil and gas sector. It continues to focus on enhancing its operational capabilities to meet industry demands efficiently.