Cochin Shipyard Ltd (CSL) is likely to get orders from private offshore oil and gas exploration companies. CSL has bagged rig repairing order from the Oil and Natural Gas Corporation. |
According to an industry expert, CSL is positioned strategically at the right spot and the ship yard's expertise in handling rigs got appreciation from exploration major ONGC. |
"In the wake of new exploration burst in the country, more private players are entering the exploration scenario. For them, rig repairing is a major problem and CSL is looking to capitalise on the business in the country," an analyst said. |
CSL has bagged major repair orders worth of Rs 372 crore from ONGC. The order for major repairs of three rigs such as two mobile offshore drilling units (MODU)"" Sagar Vijay and Sagar Bhushan ""and jack up rig (JUR) Sagar Kiran was secured by CSL against stiff international competition. Sources told Business Standard that the works would be completed by January 31, 2007. |