DRILLMEC
Drillmec India bags oil rig orders worth $1.5 billion from Oil India & ONGC
The US$ 1.57 Billion order book was achieved on the basis of orders from Oil India Ltd amounting to $ 143 million for five land based oil drilling rigs at a per unit price of $28 million per rig. MEIL already has a $860 million order from ONGC in addition to orders for ancillary equipment, spares and components.
Telangana to draw investments worth Rs 18k cr in fiscal year 2022
Telangana has attracted Rs 17,867 crore worth of investment in FY 2021-22 through 3,938 new industries and created employment for 96,863 people, Telangana Industries & Commerce Department's Annual Report 2021-22 said Minister for Industries and IT KT Rama Rao.
MEIL to invest 35 million euros in energy transition, forays into hydrogen production
Drillmec has already launched Idrogena, a start-up company dedicated to the development and industrial production of a pyrolytic converter for the production of ultra-clean hydrogen.
MEIL's Drillmec to set up $200 million oil rig manufacturing hub in Telangana
Drillmec has so far delivered close to 600 drilling rigs and developed many innovative designs and acquired patents globally. The company, which was incorporated under the laws of Italy having its registered office at Podenzano PC, Italy, was acquired by MEIL group in 2020. Drillmec clocked USD 220 million revenues during the last financial year and expects to earn USD 450-500 million this year.
MEIL to deliver $860 million worth 47 oil & gas rigs to ONGC by 2022 end
Out of 47 Rigs, there are 20 Workover Rigs-(used to perform workover operations in a well) and 27 Land Drilling Rigs.
