Ahmedabad: Megha Engineering Industry Ltd (MEIL) today said it is planning expand its business upto 2 billion dollars in coming days by manufacturing Indigenous driloing rigs.

By March 2022, going to deliver 23 rigs to ONGC. Presently 14 rigs are in transportation to different locations across India, the company said adding that MEIL will manufacture and maintenance the rigs supply to not only India and global. The 47 Rigs is substantial growth for Hydrocarbons Industry in India.

Made under the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, the advanced rig is a part of the Rs. 6,000 crore order MEIL had won from ONGC for the supply of 47 rigs MEIL, the first private company in India to manufacture and use oil and gas extraction rigs with indigenous technology, had handed over the first of the 47 rigs to ONGC, the company informed.

Outfitted with advanced hydraulic technology, the second rig is set to begin operations at KLDDH oil well near GGS-IV oil field in Dhamasana village Near Kalol in Gujarat, under ONGC Ahmedabad Asset. It drills oil wells faster and operates with minimal power. With a capacity of 1,500 HP, the rig can easily drill up to 4,000 metres. The rig is expected to be operational for 40 years and comes with the most modern technology, even in terms of security standards.

“Reducing dependence on energy imports is a must for the success of Make in India and Atmanirbhar Bharat. MEIL is proud to be contributing to both the initiatives and playing its part in boosting domestic oil production and securing the country’s energy future,” said Mr. P. Rajesh Reddy, Vice-President, of Megha Engineering & Infrastructures Ltd (MEIL).

The indigenous component level in the advanced rigs is 50% at present, and will be increased to 90% over time, the company informed.

“Until recently, India was mostly dependent on oil and fuel extraction rigs imports, but MEIL has significantly boosted domestic rig manufacturing capacity. The second rig handed over to ONGC is manufactured with state-of-the-art hydraulic and automated technology. ONGC will benefit from these advanced rigs built with cutting-edge technology,” explained Mr. N. Krishna Kumar, Head-Oil Rigs Division, MEIL.

He also said they aim to deliver 23 rigs to ONGC by March 2022, and the remaining within the stipulated time frame.

MEIL said it will manufacture and deliver the rigs to ONGC Assets in Assam (Shib Sagar, Jorhat), Andhra Pradesh (Rajahmundry), Gujarat (Ahmedabad, Ankleshwar, Mehsana and Cambay), Tripura (Agartala) and Tamil Nadu (Karaikal).

ONGC’s order of 47 rigs to MEIL comprises 20 workover rigs and 27 land drilling rigs. The 20 workover rigs include 12 having capacity of 50 MT, four having 100 MT capacity, and another four with 150 MT capacity.

Of the 27 land drilling rigs, two are mobile hydraulic rigs with a capacity of 1,500 HP, and 17 are AC VFD rigs with 1,500 HP capacity. Six others are AC VFD rigs having a capacity of 2,000 HP, and two others are HT VFD rigs of 2,000 HP. The 2,000 HP rigs can drill up to 6,000 metres.

India is importing 80% oil products. MEIL aim is to drill in India here and to produce oil here and make oil imports less. It will capture world market with Indian Engineers. The drilling rigs are really required for India, This is first ever rigs that operationally faster than the traditional Rigs. This is first of its kind latest technology rigs in world also. This rigs can operate in -65 degrees also. These rigs are completely automated and having high efficiency and performance. These rigs are very flexible in transportation and can be moved to any location easily.

The Traditional Manual handling system has lot of demerits and problems. However MIEL said its manufactured drilling rigs are Automated, computerised , very safe and good handling system. The entire rig is operates with Hydraulic System and having less manual work and having advanced technology. Megha’s Rigs Project is Massive Programme.

MEIL said it is manufacturing advanced hydraulic technology KLDDH oil well near GGS-IV oil field in Dhamasana village Near Kalol in Gujarat. In this C1-R1 is functioning successful with drilling oil. Second C1-R2 will be soon handed over to ONGC and the third one is been getting readied. Chairman Bommareddy Srinivas, Oil Rigs Head N. Krishna Kumar, MEIL Vice President P. Rajesh Reddy, along with Drill Mech experts Umberto Lavezzi and Alessandro Pederzoli gave brief description about the Drilling Rigs Functioning and their indigenous technology.