Jindal Drilling bags order worth Rs130cr from ONGC

Jindal Drilling bags order worth Rs130cr from ONGC


New Delhi:The Jindal Group company, Jindal Drilling and Industries Ltd has bagged a contract worth Rs130 crore from Oil and Natural Gas Corp (ONGC). With this order in their kitty, their order book has risen to Rs2,630 crore.

The order is for three years on firm basis for charter hire of directional drilling equipment and services, the company said in a filing to the Bombay Stock Exchange (BSE).

Charter hire is paid by domestic ship owners to shipping lines, while hiring their ships to meet domestic contractual obligations. The drilling equipment are likely to be operational by middle of January next year, it added.

The company is engaged in offshore oil and gas drilling activities and in the horizontal and directional drilling business activity.

The shares of the company closed at 1,099 up 5.64 per cent on the BSE.