Deep Industries Limited bagged a significant contract from Oil and Natural Gas Corporation Limited (ONGC) for providing gas compression services at Balol GGS-1 in the Mehsana Asset. The estimated value of the contract is ₹88.15 crore, strengthening Deep Industries’ presence in India’s oil and gas services market.
Contract Covers Gas Compression Services
Deep Industries will provide gas compression services at the Balol GGS-1 facility. The contract will remain valid for three years, providing the company with a sustained business engagement with one of India’s leading state-owned oil and gas companies. Gas compression plays a critical role in oil and gas production and processing by maintaining the required pressure for efficient gas transportation and handling. Therefore, the contract highlights the importance of reliable compression services across upstream energy operations.
Strengthening Deep Industries’ Energy Sector Presence
The ONGC order further expands Deep Industries’ portfolio of domestic oil and gas projects. Moreover, the three-year engagement provides the company with an opportunity to strengthen its capabilities and deepen its presence across India’s energy infrastructure sector. The contract also supports Deep Industries’ strategy of expanding its participation in the country’s growing oil and gas services market.
Contract Awarded on an Arm’s-Length Basis
According to the company’s disclosure, the contract does not involve any related-party transaction. In addition, there is no interest of the promoter or promoter group in the entity that awarded the contract. Consequently, the agreement has been undertaken on an arm’s-length basis and in the ordinary course of business.
₹88.15-Crore Order Boosts Business Outlook
The ONGC contract marks another important order win for Deep Industries. With a three-year tenure and an estimated value of ₹88.15 crore, the project is expected to contribute to the company’s order book and reinforce its position as a provider of oil and gas field services in India. As reported by businessupturn.com, the contract underscores Deep Industries’ continued focus on gas compression, energy infrastructure and domestic oil and gas services, while strengthening its relationship with major players in India’s energy sector.
