Deep Industries Secures LOA from Oil and Natural Gas Corporation for Gas Compression Services Worth INR 83.81 Crores
Deep Industries Limited has been awarded a Letter of Award (LOA) by Oil and Natural Gas Corporation Limited for charter hiring services pertaining to gas compression. The contract is set to span three years and carries an estimated total value of approximately INR 83.81 crores.The agreement involves providing specialized charter hiring services for gas Compression at the Lakhmani GGS-5, Assam Asset, managed by Oil and Natural Gas Corporation Limited.
According to the details provided regarding the contract, here is a summary of the award:
| Detail | Specification |
|---|---|
| Awarding Entity | Oil and Natural Gas Corporation Limited |
| Service Provided | Charter hiring services for gas Compression |
| Asset Location | Lakhmani GGS-5, Assam Asset |
| Contract Duration | Three (03) Years |
| Estimated Contract Value | INR 83.81 crores |
The order has been awarded by a domestic entity and the service is designated as domestic in nature.
Furthermore, the company confirmed that none of the promoter or promoter group companies have any interest in Oil and Natural Gas Corporation Limited. The contract also falls outside the category of related party transactions.
DEEPINDS Stock Price Movement
Shares of Deep Industries Limited slipped by 1.07% on Friday, closing at ₹487.05 after trading down by ₹5.25.The equity recorded a total traded volume of 169,364 shares during the session.
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