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Deep Industries Receives LoA from ONGC for Gas Compression Services

Deep Industries received a Letter of Award (LoA) from Oil and Natural Gas Corporation (ONGC) for charter hiring services for gas compression at the Lakmani GGS-5 asset in Assam.

The contract, awarded by a domestic entity, has an estimated value of about Rs. 838.1 million and will be executed over a period of three years.

In the "charter hiring" model, Deep Industries owns the compression equipment and deploys it at ONGC's facilities, earning fixed, recurring revenue over the contract period. Earlier in April 2026, the company also bagged a Rs. 59-crore contract for similar natural gas compressor and gas dehydration services at ONGC's Rajamundry Asset in Malleswaram. Together, these awards provide significant medium-to-long-term revenue visibility for Deep Industries' order book.

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