Hindusthan Shipyard Ltd handed over the repaired jack-up rig — Sagar Ratna — to ONGC, at a ceremony on Saturday , according to a press release.
Rear-Admiral (retd), Mr N. K Mishra, the CMD of HSL, said the shipyard has repaired 2,000 vessels so far and gained rich experience in the field, making it well-equipped to undertake repairs to high-tech marine assets.
He said there was close co-operation between the ONGC and HSL. He congratulated the employees for completing the work on time.
Joint venture possible
The Chairman and Managing Director of ONGC, Mr Sudhir Vasudeva, said there was synergy between the two PSUs, and on the east coast a joint venture could be formed.
The repaired oil rig is a cantilever type, non-propelled, self-elevating drilling unit for the maximum operating water depth of 300 feet and drilling depth of 20,000 feet.
The rig has been repaired under the classification of American Bureau of Shipping and IRS.