Jindal Drilling Bags 3-Year ONGC Rig Deployment Contract for Jindal Pioneer

Offshore drilling service provider Jindal Drilling And Industries Limited (NSE: JINDRILL | BSE: 511034) has received a formal Notification of Award (NoA) from state-owned energy giant Oil & Natural Gas Corporation Limited (ONGC) for the deployment of its offshore rig, Jindal Pioneer.

Contract Key Details & Operational Summary

ONGC CONTRACT HIGHLIGHTS (JINDAL PIONEER)
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   * Awarding Entity    : Oil & Natural Gas Corporation Ltd. (ONGC)
   * Asset Deployed     : Rig 'Jindal Pioneer'
   * Contract Tenure    : 3 Years (36 Months)
   * Effective Day Rate : ₹45,83,215.16 (~USD 47,893.99 per day)
   * Expected Start     : Q3 FY27 (October - December 2026)
   * Status of Rig      : Currently under refurbishment
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Total Contract Value Estimate

Based on the Effective Day Rate (EDR) of ₹45.83 lakh/day over the 3-year (1,095 days) tenure, the aggregate value of the contract stands at approximately ~₹501.86 crore (~USD 52.44 million).

Shares of Jindal Drilling And Industries Limited was last trading in BSE at Rs. 602.80 as compared to the previous close of Rs. 578.80. The total number of shares traded during the day was 34193 in over 1179 trades.

The stock hit an intraday high of Rs. 610.00 and intraday low of 572.60. The net turnover during the day was Rs. 20420493.00.

Source : Equity Bulls

Keywords

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