Hyderabad: Megha Engineering and Infrastructures Limited (MEIL) plans to expand its business up to $ 2 billion by manufacturing native drilling rigs.
MEIL won the order to manufacture and supply 23 rigs to Oil and Natural Gas Corporation Limited (ONGC). At present, 14 platforms are in transport to different locations across India.
This is the first time that MEIL has delivered 47 platforms worth INR 6,000 to such a large scale in the private sector under the “Make in India” and “Atmanirbhar Bharat” initiatives.
Equipped with advanced hydraulic technology, the second platform is expected to begin operations at the KLDDH oil well near the GGS-IV oil field in Dhamasana Near Kalol village in Gujarat, under ONGC Ahmedabad Asset.
It drills oil wells faster and operates with minimum horsepower. With a capacity of 1,500 hp, the drill can easily drill up to 4,000 meters. The platform is expected to be operational for 40 years and is equipped with the most modern technology, even in terms of security standards.
CGSB’s order for 47 rigs to MEIL includes 20 workover rigs and 27 land-based drilling rigs. The 20 reconditioning platforms include 12 with a capacity of 50 MT, four with a capacity of 100 MT and four others with a capacity of 150 MT.
Of the 27 onshore drilling platforms, two are mobile hydraulic platforms with a capacity of 1500 HP and 17 are VFD AC platforms with a capacity of 1500 HP. Six others are 2000 HP capacity VFD AC platforms, and two more are 2000 HP VFD HT platforms. The 2,000 HP drills can drill up to 6,000 meters.
“Reducing dependence on imported energy is essential to the success of Make in India and Atmanirbhar Bharat. MEIL is proud to contribute to both initiatives and play its role in increasing national oil production and securing the country’s energy future, ”said MP Rajesh Reddy, Vice President, MEIL.
The level of native components in advanced platforms is 50 percent right now and will increase to 90 percent over time.
“The second platform handed over to ONGC is manufactured with state-of-the-art hydraulic and automated technology. ONGC will benefit from these advanced platforms built with state-of-the-art technology. They aim to deliver 23 rigs to ONGC by March 2022 “, explained MN Krishna Kumar, head of Oil Platforms Division, MEIL.
India imports 80 percent of petroleum products. MEIL’s goal is to drill in India here and produce oil here and reduce oil imports.
“In this C1-R1 works successfully with oil drilling. The second C1-R2 will soon be handed over to ONGC and the third is under preparation, ”said President Bommareddy Srinivas, responsible for oil platforms.
These platforms can also operate at -65 degrees. These platforms are fully automated and have high efficiency and performance. These platforms are very flexible in transportation and can be easily moved to any location.
MEIL manufactures the KLDDH advanced hydraulic technology oil well near the GGS-IV oil field in the village of Dhamasana near Kalol in Gujarat.