Written by Deep Industries Ltd has won a major contract worth ₹1,402 crore from Oil and Natural Gas Corporation (ONGC) for production enhancement operations at ONGC’s Rajahmundry Asset. The contract marks a significant addition to the company’s order book and strengthens its position in the oilfield services segment.
The company has been associated with the project through its operations at the Mori-5 well, which it has been managing for nearly a year. The successful execution of this well is understood to have played a key role in securing the larger production enhancement contract.
This order is expected to provide long-term revenue visibility for Deep Industries and highlights its technical capabilities in enhancing oil and gas production for large upstream players like ONGC. Market participants will closely track the impact of this contract on the company’s financial performance in the coming quarters.
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