BHEL to revamp offshore oil rigs biz

BHEL on Friday said it will approach shipyards for providing equipment used for making oil rigs.

"We would approach some shipyards for providing equipment for manufacturing offshore oil rigs... cannot name them (shipyards) as of now," BHEL CMD, B P Rao said here.

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The company had earlier decided to quit its deep water oil rig business as it was unable to find a suitable partner arising out of investment constraints.

"Currently we are in onshore oil rigs business with ONGC and Oil India... we are engaged in refurbishment of these rigs," Rao said.

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BHEL has manufactured and supplied over 80 drilling and well servicing rigs to both ONGC and Oil India.

The company's primary business is manufacturing power equipment and it plans to augment its manufacturing capacity for supporting 15,000 MW electricity generation by the end of this financial year and further enhance it to 20,000 MW by 2012.


ref:
http://sify.com/finance/equity/fullstory.php?a=jkkiCLgjcec&title=BHEL_to_revamp_offshore_oil_rigs_biz&cid=20753