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Deep Industries Receives LOA for Two Workover Rigs from Oil India

Deep Industries Ltd. said that it had received a letter of award from Oil India for charter hiring of two Workover Rigs (550 HP- 750 HP capacity) for a period of three years.

 

The company focuses on providing Air & Natural Gas Compressor Services on a chartered hire basis. It also provides workover and drilling rig services. The company holds a fleet of onshore workover and drilling rigs, ranging from 150 HP TO 1500 HP.

 

The company has also forayed into the exploration and production segment. Deep Industries operates onshore oil and natural gas blocks, and coal bed methane blocks awarded through various bidding processes.

 

Last month, the National Company Law Tribunal (NCLT) approved the resolution plan for Dolphin Offshore submitted by Deep Industries. The plan will be binding on the corporate debtors and Deep Industries' employees, members, creditors, and other stakeholders. The resolution plan is worth Rs. 270 million.

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