GOL Offshore is trading higher by 4% at Rs 50.70 in otherwise weak market after the company said that it has signed a contract worth of Rs 710 crore with Oil & Natural Gas Corporation Limited (ONGC) for the reconstruction of the gas processing platforms of ONGC on the West Coast of India.
The contract is for reconstruction of gas processing platforms of ONGC named BPA and BPB, on the West Coast of India. The role of the company involves engineering survey, detailed design & engineering, procurement, fabrication, transportation of materials (from shore to offshore), installation & hookup and commissioning, GOL Offshore, the offshore services provider said in a statement.
The contract amount is approximately Rs 710 crore and is for over two years, it added.
The stock opened at Rs 51.80 and touched high of Rs 52.50 on NSE. A combined around 42,000 shares change hands on the counter till 0930 hours on NSE and BSE.
The contract is for reconstruction of gas processing platforms of ONGC named BPA and BPB, on the West Coast of India. The role of the company involves engineering survey, detailed design & engineering, procurement, fabrication, transportation of materials (from shore to offshore), installation & hookup and commissioning, GOL Offshore, the offshore services provider said in a statement.
The contract amount is approximately Rs 710 crore and is for over two years, it added.
The stock opened at Rs 51.80 and touched high of Rs 52.50 on NSE. A combined around 42,000 shares change hands on the counter till 0930 hours on NSE and BSE.
