Deep Industries has received a letter of award (LoA) from Oil India for the charter hire of one brand-new workover rig to be deployed in Assam and Arunachal Pradesh.

The order, valued at approx.Rs 96.72 crores, will be executed over a period of seven years. The workover rig will be used for well maintenance and enhancement operations, supporting Oil India’s production optimisation efforts in the Northeast.

The contract scope includes providing the rig, related manpower, maintenance, and operational support to ensure efficient well servicing. This deal is expected to contribute significantly to the company’s revenue visibility and order book stability over the contract duration.

With this win, Deep Industries reinforces its position in the oilfield services sector, particularly in challenging terrains like Assam and Arunachal Pradesh.