New Delhi: Cochin Shipyard Limited (CSL), a leading public sector enterprise in the shipbuilding and maintenance sector, has announced the signing of a significant contract with Oil and Natural Gas Corporation Limited (ONGC) for dry dock and major lay-up repairs of one of ONGC’s jack-up rigs.
In a regulatory filing, CSL stated that the contract is valued at approximately ₹200 crore and will be executed over a 12-month period. This marks a key addition to CSL’s portfolio in offshore rig maintenance, reinforcing its position as a trusted player in India’s marine and energy infrastructure ecosystem.
Project Scope and Strategic Significance
The contract involves comprehensive dry docking and lay-up repair services—critical processes to maintain and restore offshore drilling rigs that have been inactive or in storage. Jack-up rigs are essential assets in offshore oil and gas exploration, and regular repairs ensure their safety, reliability, and operational readiness.
This contract is expected to utilize CSL’s robust technical expertise, state-of-the-art infrastructure, and skilled workforce to deliver quality results within the stipulated timeline.
Governance and Compliance
CSL clarified that no promoter, promoter group, or group companies have any financial or business interest in ONGC in relation to this project. The company also confirmed that the contract does not constitute a related party transaction, ensuring transparency and full regulatory compliance.
Strengthening PSU Collaboration
This development highlights growing collaboration between major Indian public sector undertakings (PSUs). By awarding the repair work to CSL, ONGC supports domestic marine capabilities in line with the government’s “Make in India” and Atmanirbhar Bharat initiatives, promoting indigenous solutions in critical sectors such as offshore energy and marine infrastructure.
About ONGC
Oil and Natural Gas Corporation (ONGC), headquartered in New Delhi, is India’s largest crude oil and natural gas producer. Established in 1956, it plays a critical role in meeting the nation’s energy needs while driving technological advancement, sustainability, and innovation in the hydrocarbon sector.
About Cochin Shipyard Limited
Cochin Shipyard Limited is India’s largest shipbuilding and maintenance facility, headquartered in Kochi, Kerala. Established in 1972, CSL is a Miniratna Category-I Central Public Sector Enterprise under the Ministry of Ports, Shipping and Waterways. The company specializes in building and repairing a wide range of vessels including defense ships, offshore platforms, and commercial ships. CSL plays a pivotal role in India’s maritime infrastructure development and contributes significantly to the nation’s defence preparedness through strategic contracts with the Indian Navy and Coast Guard.
