New Delhi: In a big boost for the government's flagship Make in India programme, Megha Engineering & Infrastructures Ltd (MEIL) said on Wednesday that its first indigenously-developed oil drilling rig has started operations in ONGC's Kalol oil fields in Ahmedabad, Gujarat. With this, MEIL has become the first company in the private sector to manufacture and use oil rigs, the company said in an official statement. The rig, which became operational on Wednesday, is part of an order for 47 drilling rigs worth Rs 6,000 crore.
"As part of the Centre's Make in India programme, MEIL has manufactured these rigs for the first time in the country," said the statement. With a capacity of 1,500 HP, these rigs can easily dig oil wells up to 4,000 metre (4 kilometers) depth from the ground surface and the rigs have a life span of about 40 years, it added.
The order for manufacturing 47 drilling rigs was received by MEIL in 2019. "As part of this, the first rig was brought into use at the oil fields in Ahmedabad, it said. The remaining 46 rigs are in various stages of manufacture," said the company.
Of the remaining 46 rigs, two are being assembled in oil fields of Rajahmundry in Andhra Pradesh, while the remaining rigs will be supplied to ONGC oil fields in Assam, Tripura and Tamil Nadu, said MEIL. MEIL Vice President P Rajesh Reddy said the company is very proud to produce the first rig under Make in India programme with advanced native technology and supply to ONGC. Reddy added that MEIL has become a hope for India in oil and fuel extraction rigs, which till now was mostly dependent on other countries' machinery.
"This programme will go a long way in improving the domestic economy by increasing domestic oil production and reducing imports," said the statement.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram & Twitter as well. Join PSU Watch Channel in your Telegram and follow us on Twitter to stay updated)