JINDRILLJindal Drilling & Industries Ltd.
Jindal Drilling & Industries gets ONGC award for rig Discovery-I
- Order win
- Oil Exploration/Production
Reviewed byRachit TripathiBlacklitt Research
Jindal Drilling & Industries (NSE: JINDRILL) has received a Notification of Award from Oil & Natural Gas Corporation Limited for deployment of rig Discovery-I for 3 years at an Effective Day Rate of ₹51.99 lakh, it said in a filing on 06 Nov 2026. The company's market value is about ₹1,503 crore.
Key highlights
- Effective Day Rate: ₹51.99 lakh, equivalent to USD 54,633.36
- Contract period: 3 years
- Awarding entity: Oil & Natural Gas Corporation Limited, a domestic entity
- Related party: not a related party transaction
The award in numbers
| Item | Detail |
|---|---|
| Awarded by | Oil & Natural Gas Corporation Limited (ONGC) |
| Rig | Discovery-I |
| Effective Day Rate | ₹51.99 lakh (₹51,99,293.21) |
| Equivalent in USD | USD 54,633.36 |
| Period | 3 years |
| Domestic or international | Domestic |
What the award is priced on
The award is priced per day, not as a fixed sum. The Effective Day Rate of ₹51.99 lakh applies to the deployment of rig Discovery-I over the 3-year period, and the filing gives no total contract value.
The filing does not state the number of days or utilisation assumed under the day rate, so the total value over the period cannot be worked out from the filing.
Where the award sits against the company's size
The Effective Day Rate of ₹51.99 lakh is a daily figure. The company's latest reported quarter, Q1 FY27 on a consolidated basis, had total income of ₹282.60 crore and net profit of ₹52.42 crore.
The award is for one rig and is described as a domestic order for deployment by ONGC, which is the only counterparty named in the filing.
What the ONGC award means for Jindal Drilling & Industries' shareholders
The filing does not say when deployment starts, the total value over the period, or whether the award is exclusive or subject to conditions.
Filed with BSE on . Reference: Original filing (PDF)
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