Drillmec bags oil rig orders from Oil India and ONGC
OIL & GAS

Drillmec bags oil rig orders from Oil India and ONGC

Drillmec India, part of the $4 billion Hyderabad-based Megha Engineering & Infrastructures (MEIL) group, has achieved an oil rig order book of $1.5 billion with new rig orders from Oil India and ONGC.

The $1.57 billion order book was achieved on the basis of orders from Oil India amounting to $143 million for five land based oil drilling rigs at a per unit price of $28 million per rig. MEIL already has an $860 million order from ONGC in addition to orders for ancillary equipment, spares and components. At current revenue pipeline, Drillmec is likely to cross annual revenues of $216 million in India while global revenues could clock $500 million.

DrillMec India’s outstanding orders as on July 31, 2022 stands at 54 rigs and at an order value $1.57 billion including $300 million for FY 2022-23, followed by current booked order value of $800 million order value in 2023-24 and of $500 million in FY2024-25 as expected delivery spread, the company said in a statement.

Drillmec India, part of the $4 billion Hyderabad-based Megha Engineering & Infrastructures (MEIL) group, has achieved an oil rig order book of $1.5 billion with new rig orders from Oil India and ONGC. The $1.57 billion order book was achieved on the basis of orders from Oil India amounting to $143 million for five land based oil drilling rigs at a per unit price of $28 million per rig. MEIL already has an $860 million order from ONGC in addition to orders for ancillary equipment, spares and components. At current revenue pipeline, Drillmec is likely to cross annual revenues of $216 million in India while global revenues could clock $500 million. DrillMec India’s outstanding orders as on July 31, 2022 stands at 54 rigs and at an order value $1.57 billion including $300 million for FY 2022-23, followed by current booked order value of $800 million order value in 2023-24 and of $500 million in FY2024-25 as expected delivery spread, the company said in a statement.

Next Story
Infrastructure Urban

Arya Omnitalk Powers India’s Toll Revolution with AI-Driven Solutions

Arya Omnitalk, a leader in intelligent transportation systems, is revolutionising toll collection across India’s national highways with its advanced AI-powered Toll Management Solutions. Designed for rugged remote toll locations, the company’s cutting-edge technology ensures seamless, reliable, and secure tolling—especially during high-capacity operations exceeding 200%. By integrating real-time analytics, cyber protection, and FASTag-based cashless tolling, Arya Omnitalk’s systems are significantly reducing congestion, improving transparency, and enhancing revenue assurance. Its full..

Next Story
Infrastructure Urban

Over 800 Join Anant Raj Runathon to Mark Earth Day

Over 800 participants came together at Anant Raj Estate, Sector 63A, Gurugram, for the Anant Raj Runathon 2025—a vibrant celebration of Earth Day through fitness, community bonding, and sustainability. Curated by renowned running coach Ravinder, the event featured four categories: 10-mile and 5-mile timed runs, a 5-mile walkathon, and a 1-mile kids’ run. Runners of all ages took to the green, scenic roads of the area—some chasing personal bests, others running for a cause. The Runathon was designed to promote healthy living while raising awareness about sustainable practices. Participa..

Next Story
Infrastructure Urban

PETRONAS Lubricants, Quaker Houghton Ink Strategic Deal

In a significant step towards strengthening industrial operations in India and Malaysia, PETRONAS Lubricants India Pvt. Ltd (PLIPL) and Quaker Houghton have announced a strategic partnership aimed at delivering high-performance industrial fluid solutions to key manufacturing sectors, including steel production. The collaboration combines the strengths of both companies—leveraging PETRONAS Lubricants India’s maintenance lubricant technologies and Quaker Houghton’s deep expertise in metalworking fluids. Starting from the second quarter of 2025, Quaker Houghton will begin offering PETRONAS..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?