Bharat Heavy Electricals Ltd., or BHEL, said it had secured a contract for Rs.774 crore from India's premier upstream oil company Oil and Natural Gas Corporation Ltd., or ONGC for supply of onshore drilling rigs.
The order envisages manufacture and supply of 6 nos. state-of-the-art 2000 HP onshore drilling rigs with AC drives.
Significantly, ONGC has gone in for acquisition of new rigs after a gap of over 18 years and has opted for rigs with high efficiency AC drives in line with the latest trends worldwide. Hitherto, ONGC has procured rigs with AC SCR technology, where the draw-works and mud pumps, etc. are powered with DC drives. Rig operation with AC drives is more efficient than DC drives due to the high power factor of AC motors.
BHEL has established facilities and a dedicated group of expert engineers for manufacture, refurbishment and up-gradation of onshore drilling rigs/rig equipment.
For the above contract, the mechanical equipment will be manufactured by BHEL's Hyderabad plant, while the electrics will be manufactured by the company's Bhopal plant.
BHEL is the leading and only manufacturer of on-land drilling rigs in the country, having supplied 84 rigs so far. Of these, 71 rigs have been supplied to ONGC and 13 to Oil India Ltd. (OIL).
For ONGC, BHEL has also successfully carried out refurbishment and up-gradation of 33 onshore drilling rigs, thereby enhancing the life of these aging rigs. The company is presently in the process of completing refurbishment and up-gradation work of seven more rigs of ONGC.
BHEL is one of the leading engineering and manufacturing organizations in the world, supplying products and systems to core sectors viz. power generation, transmission and distribution, transportation, defense and industries like metallurgical, petrochemicals, refinery, fertilizers, paper, cement, besides oil exploration and production.
At the BSE, Bharat Heavy Electricals closed Monday's trading at Rs.289.15, down by 4.88 percent from the previous close.
| || |
| To receive FREE breaking news email alerts for Bharat Heavy Electricals Ltd. and others in your portfolio|
by RTT Staff Writer
For comments and feedback: email@example.com