Deep Industries, a company engaged in oil and gas feild operations, announce that company has been awarded a contract from ONGC. The tenure of the contract is 1 year and the total estimated value of the said contract is Rs 37.2 million.

The contract is for securing the services of 30 Tons Workover Rig to be deployed in ONGC CBM Asset, Bokaro.

Deep continues to participate in the growing services business in the Indian On-shore Gas market and with its proven capabilities is confident of emerging a significant beneficiary of the vast opportunities this sector has on offer.

Shares of the company gained Rs 4.45, or 1.6%, to trade at Rs 282.60. The total volume of shares traded was 5,172 at the BSE (10.17 a.m., Friday).