RBM Infracon Ltd takes over ONGC’s Nandej Oil Field Project worth Rs 33,498 crore

The project has a total contract value of Rs 33,498 crore, with Rs 33,371 crore allocated for crude oil and Rs 127 crore for gas.

RBM Infracon Ltd takes over ONGC’s Nandej Oil Field Project worth Rs 33,498 crore
RBM Infracon Ltd takes over ONGC Nandej Oil Field Project worth Rs 33,498 crore

RBM Infracon Limited has announced its takeover of ONGC’s Nandej Oil Field project, which will take effect on January 17, 2025. This decision follows the successful execution of the Oil and Gas Production Enhancement Contract awarded in September 2024, which was completed ahead of schedule.

The project has a total contract value of Rs 33,498 crore, with Rs 33,371 crore allocated for crude oil and Rs 127 crore for gas. The agreement is set for 15 years but can be extended by an additional five years, highlighting RBM’s commitment to operational excellence and timely execution.

Starting January 17, 2025, RBM will take full responsibility for managing the Nandej Oil Field’s operations, with revenues expected to gradually appear in its financial statements. This achievement emphasizes RBM’s leadership in industrial services and oil and gas project management.

On January 17, 2025, RBM Infracon Ltd opened at Rs 713.50, up 3.83% from its previous close of Rs 690.15. The stock reached an intraday high of Rs 744.00 and low of Rs 710.00, currently stock is trading at Rs 716.60, with a market cap of Rs 723.98 crore.

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