By IANS,
New Delhi : Power equipment maker Bharat Heavy Electricals (BHEL) Monday said it has secured a contract worth Rs.774 crore to supply onshore drilling rigs to Oil and Natural Gas Corporation Limited (ONGC).
“The order envisages manufacture and supply of 6 numbers of 2,000 HP onshore drilling rigs with AC drives,” the company said in a statement.
For this contract, the mechanical equipment will be manufactured by BHEL’s Hyderabad plant, while the electrics will be manufactured by the company’s Bhopal plant.
Significantly, the ONGC has gone in for acquisition of new rigs after a gap of over 18 years and has opted for rigs with high efficiency AC drives in line with the latest trends worldwide.
For the ONGC, BHEL has also successfully carried out refurbishment and upgradation of 33 onshore drilling rigs. The company is at present in the process of completing refurbishment and upgradation work of 7 more rigs of ONGC.
At the Bombay Stock Exchange the shares of the company closed 4.88 percent lower at Rs.289.15.