Deep Industries has announced that it has secured an order worth Rs 1,402 crore from Oil and Natural Gas Corporation (ONGC).

In an exchange filing, the company said, “Deep Industries said, Ltd (DIL), a leading integrated solutions provider for Oil & Gas field operations, has announced a significant order win valued at Rs 1,402 crore from Oil and Natural Gas Corporation (ONGC).”

According to the company, the contract is for Production Enhancement Operations in the mature fields of ONGC's Rajahmundry Asset and spans a duration of 15 years.

Production Enhancement Contracts (PEC) are designed to boost hydrocarbon production from ageing, depleted, and mature fields, extending their operational life by about 15 years beyond their original lifespan.

At the Rajahmundry asset, ONGC aims to enhance hydrocarbon reserves in the Contract Areas by adopting safe, efficient operating practices, and utilising suitable techniques and technologies to improve both current production levels and overall hydrocarbon recovery.