United Drilling Tools Secures Rs. 4 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 Gas Lift Valves and Side Pocket Mandrels. The order, valued at approximately Rs. 4 Crore, is expected to be executed within 3-4 months. This transaction is part of United Drilling Tools’ regular business operations and does not involve any related party transactions. The order emphasizes the company’s ongoing engagement in the oil drilling equipment manufacturing and services sector.
United Drilling Tools Ltd has announced the receipt of an order from Oil and Natural Gas Corporation Limited (ONGC) for the supply of Gas Lift Valves and Side Pocket Mandrels. The order is valued at approximately Rs. 4,05,71,223 and is expected to be executed within a timeframe of 3-4 months.
The order involves the supply of Gas Lift Valves, Side Pocket Mandrels, and Orifice Valves. This transaction is categorized as a commercial order and is part of the company’s ordinary course of business. The order was awarded by a domestic entity, confirming the company’s ongoing operations within the domestic market.
There are no related party transactions involved in this order, and the promoter or promoter group does not have any interest in ONGC. The order does not fall within related party transactions, ensuring compliance with regulatory requirements.
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 known for its extensive operations in the upstream sector, contributing significantly to India’s energy needs.
United Drilling Tools Ltd specializes in the manufacturing and servicing of oil drilling equipment. The company focuses on delivering high-quality products and services to its clients in the oil and gas industry. Its strategic priorities include expanding its product offerings and maintaining strong relationships with key industry players.