Order received from ONGC for the supply of Large OD casing pipe with multi start connector
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United Drilling Tools Ltd has received a domestic order from Oil and Natural Gas Corporation Limited (ONGC) for the supply of Large OD casing pipes with multi start connectors. The contract value is INR 10,35,50,000 (approximately Rs. 10.36 crore). The order is for commercial supply and is to be executed within 6 months. ONGC is India's largest state-owned oil and gas company. The order has been received in the ordinary course of business and is not a related party transaction. This represents a new contract win for the company in the oil drilling equipment segment.
A positive development for the company as it secures a significant order from India's largest oil explorer. The Rs. 10.36 crore contract, to be completed in 6 months, provides revenue visibility and strengthens the company's order book from a prestigious government client.