Ahmedabad-based Deep Industries Ltd has been awarded a contract worth Rs 3.72 from state-owned Oil and natural Gas Corporation of India (ONGC) Ltd.

According to the company, the contract with a tenure of one year is for securing the services of 30 tons work over rig to be deployed in ONGC CBM asset, Bokaro.

Deep Industries, a diversified oil and gas company, engages in air and gas compression, drilling, work over, and oil and gas exploration and production businesses. The company holds interest in an onshore oil and natural gas block and the exploration and development of methane gas in Singrauli coal field in Madhya Pradesh.

“Deep continues to participate in the growing services business in the Indian on-shore gas market and with its proven capabilities is confident of emerging a significant beneficiary of the vast opportunities this sector has on offer,” the company said.

Shares of the company surged more than 2% intraday Friday on BSE after the announcement came in. At 11.10 am, the Rs 10 face value shares were trading at Rs 282.40, up 1.53% from the previous closing of Rs 278.15.

here is company details.

 

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