By IANSt
New Delhi : State-owned power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs.2-billion oilfield equipment supply order from Oil and Natural Gas Corp Ltd (ONGC), the biggest ever from the petroleum major, BHEL said Thursday.
“In the face of stiff competition under international competitive bidding, the company has won the single largest long-term rate contract from Oil and Natural Gas Corp for the supply of wellhead assemblies, critical spares and accessories used in oil exploration,” the company said in a statement.
“ONGC’s projected off-take from BHEL for this vital equipment is about Rs.2 billion for the next three years for their onshore as well as offshore projects.”
Around 65 percent of these orders will have deemed export, the company said.
“ONGC’s regional offices across the country will compile their requirement and place orders directly on BHEL, as per the agreed rates, terms and conditions of the contract,” the company said.