MEIL will deliver 47 oil, gas rigs to ONGC worth $860 million

According to the sources, an infrastructure major, Megha Engineering and Infrastructures Ltd (MEIL), will deliver 47 oil and gas rigs worth $860 million to Oil and Natural Gas Corporation Ltd (ONGC) by the end of 2022. Head of oil rigs of the diversified conglomerate, Kumar N K, said that currently, it has an order book of rigs and relevant equipment worth $1.5 billion and hoping $2 billion from domestic and international markets within three years. The supply of 47 rigs is a 35-month programme, and the company got the contract through international bidding in 2019. By the end of the financial year (FY), the company can supply 20 rigs, and the other 27 rigs will be supplied by the end of 2022, he said. He said that of the total 47 rigs, 20 are workover rigs, and 27 are land drilling rigs. The first drilling rig, having advanced hydraulic technology and operations, completed oil well drilling of ONGC at Kaloi oil field near Dhamasana village. As per Kumar, the 1500 HP land drilling rig can drill up to 4,000 metres (m) oil wells beginning from the surface. The 47 rigs will be manufactured in India under the Atma Nirbhar Bharat Policies and supplied to ONGC in Assam, Andhra Pradesh, Gujarat, Tamil Nadu and Tripura. Kumar said that MEIL, being a major oil and gas player in the country and worldwide, is now set to modernise its rigs and hopes to get a major business chunk in future. He further added that oil and gas companies could save their time and resources if they deploy in MEIL's rigs. Image Source Also read: Govt aims speedy clearance of exploration activities