DRILLMEC INTERNATIONAL
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.
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.
