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MEIL delivers second oil rig to ONGC

27 Aug 2021 Evaluate

MEIL has delivered the second oil rig to Oil and Natural Gas Corporation (ONGC), and another 21 rigs will be supplied to the state-owned firm by 2022. The delivery is a part of the Rs 6,000 crore order Megha Engineering and Infrastructures (MEIL) had won from ONGC for the supply of 47 rigs.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

Peers
Company Name CMP
ONGC 225.50
Oil India 444.40
Jindal Drilling&Inds 585.60
Deep Industries 745.85
Asian Energy Service 458.45
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