United Drilling Tools Limited (UDTL) has announced a significant milestone by securing an order worth ₹148.6 crore from Vedanta Limited (Cairn Oil & Gas), a global leader in natural resources. The order involves the supply of Oil Country Tubular Goods (OCTG), including casing, tubing, pup joints, and X-overs, over the next three years.
This contract underscores UDTL’s growing prominence in the oil and gas industry and strengthens its market position amidst fierce competition from major players like Sumitomo Corporation and Marubeni Corporation. The order focuses on OCTG products tailored for offshore and deep basin applications, ensuring robust performance in demanding conditions.
Key Order Highlights:
- Value: ₹1,486.62 million.
- Duration: 3 years.
- Products: OCTG casing, tubing, pup joints, and X-overs for offshore and deep basin use.
The global OCTG market, valued at USD 24.93 billion in 2023, is projected to reach USD 46.61 billion by 2032. This growth offers UDTL opportunities to expand its product portfolio and cater to increasing industry demands.
Commenting on the development, Shri Pramod Kumar Gupta, Chairman-cum-Managing Director, said, “This prestigious order highlights our commitment to delivering high-quality products and services. Securing this contract against strong competition showcases the trust placed in UDTL by our esteemed customers like Vedanta.”
UDTL continues to prioritize innovation, quality control, and research and development, ensuring its products meet international standards while remaining competitively priced.
