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MEIL's Rs 6000 crore ONGC drilling rig contract: Company delivers first rig at Kalol
Apr 07:
There was quite a bit of cynicism when Megha Engineering and Infrastructures (MEIL) bagged a Rs 6000 crore deal to manufacture and supply 47 drilling rigs -- 20 are work-over rigs and 27 drilling rigs -- from ONGC in 2019.
8Of this lot -- one 1500 HP drilling rig -- has been delivered and installed at Kalol. Operations have begun.
8That is quite a feather in the cap for the company but it remains to seem how quickly the rest of the rigs are deployed as per timelines committed by the company to ONGC.
8This experience will not count while MEIL bids for downstream projects but due to a change of bidding norms and on the basis of its experience in the Assam Renewal Project of ONGC, it is expected to emerge as a very formidable competitor in this segment.
8Hyderabad-based companies are always taken with a pinch of salt in the industry but this one seems to have broken out of the mold.
Click on Reports for more.
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8Of this lot -- one 1500 HP drilling rig -- has been delivered and installed at Kalol. Operations have begun.
8That is quite a feather in the cap for the company but it remains to seem how quickly the rest of the rigs are deployed as per timelines committed by the company to ONGC.
8This experience will not count while MEIL bids for downstream projects but due to a change of bidding norms and on the basis of its experience in the Assam Renewal Project of ONGC, it is expected to emerge as a very formidable competitor in this segment.
8Hyderabad-based companies are always taken with a pinch of salt in the industry but this one seems to have broken out of the mold.
Click on Reports for more.
