Oil India informed that it has signed a contract with Dolphin Drilling, Norway for the hiring of the 'Anchor Moored Semi-Submersible Drilling Unit Blackford Dolphin' on 22 July 2024.
Dolphin Drilling is a leading drilling contractor for the offshore oil & gas industry.The Blackford Dolphin will be deployed for drilling in Andaman Offshore Blocks to undertake exploration activities in the block, the company stated in the filing.
Oil India is a state-owned Maharatna under the administrative control of India's Ministry of Petroleum and Natural Gas. As of 31 March 2024, the Government of India held 56.66% stake in the company.
The petroleum business company reported 13.45% increase in standalone net profit to Rs 2,028.83 crore on 2.46% rise in revenue from operations to Rs 5,527.3 crore in Q4 FY24 over Q4 FY23.
The scrip slipped 2.86% to close at Rs 555 on Monday, 22 July 2024.
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