MEIL to deliver $860 million worth 47 oil & gas rigs to ONGC by 2022 end

Megha Engineering & Infrastructures (MEIL) is all set to deliver $860 million worth 47 oil and gas rigs to ONGC NSE 0.22 % by end of next year, a senior official of the Hyderabad-based infra major said on Thursday.

Kumar NK, Head-Oil Rigs Division of the diversified conglomerate said the vertical currently has order book of rigs and related equipment worth $1.5 billion (including the 47 rigs to be supplied to ONGC) and was hoping that in the next three years $two billion worth orders from both domestic and international markets.