Deep Industries Limited has received a significant Letter of Award from Oil India Limited for the charter hire of one brand-new workover rig. The rig will be deployed in the northeastern states of Assam and Arunachal Pradesh. The total estimated value of the contract stands at approximately ₹96.72 crore.
This domestic contract, awarded under a tenure of seven years, marks a strategic win for Deep Industries in the oil and gas equipment services sector. As per the agreement, the company will provide a state-of-the-art workover rig to support Oil India’s operations in the region.
There is no promoter or related party interest involved in the award, ensuring the deal is entirely at arm’s length. The order strengthens Deep Industries’ portfolio and is expected to contribute positively to its long-term revenue pipeline.
This development reinforces the company’s commitment to delivering quality oilfield services across key exploration zones in India.
