Deals1 Jan 2025, 02:55 pm
South West Pinnacle Exploration Ltd Wins Contract Extension from Reliance Industries for CBM Production Worth Over Rs. 158 Crores
AI Summary
South West Pinnacle Exploration Ltd (SWPE) has been awarded an extension of contract for CBM production from Reliance Industries Ltd (RIL). The extension, worth over INR 158 crores, will double the present operations with deployment of new rig and equipments and additional manpower. The contract has a provision for three more extensions of six months each. SWPE has successfully completed two projects of RIL in the past and is executing its’ Phase- 1 of the present contract. The extension (Phase -2) will significantly increase the company’s order book and ensure business in the medium to long run.
Key Highlights
- SWPE awarded an extension of contract for CBM production from RIL worth over INR 158 crores.
- The extension will double the present operations with deployment of new rig and equipments and additional manpower.
- The contract has a provision for three more extensions of six months each.
- SWPE has successfully completed two projects of RIL in the past and is executing its’ Phase- 1 of the present contract.
- The extension (Phase -2) will significantly increase the company’s order book and ensure business in the medium to long run.