Jindal Drilling Share Price Surges Over 4%; Receives 3-Year Rig Deployment Award from ONGC

Jindal Drilling & Industries Ltd. has received a Notification of Award from Oil & Natural Gas Corporation Ltd. (ONGC) for the deployment of its Jindal Pioneer offshore drilling rig, as per the exchange filings.  

The contract has been awarded for a three-year period at an effective day rate of ₹45,83,215.16, equivalent to $47,893.99.  

Three-Year Deployment Contract Awarded 

Under the contract, ONGC will deploy the Jindal Pioneer rig for three years. The award has been issued by ONGC, a domestic entity, under the terms disclosed by the company.   

Rig Under Refurbishment Ahead of Deployment 

Jindal Drilling said the Jindal Pioneer rig is currently undergoing refurbishment, with the contract expected to commence in the third quarter of FY27.  

The company stated that the contract has been awarded by a domestic entity and confirmed that neither the promoter nor promoter group has any interest in ONGC. It also clarified that the contract does not qualify as a related-party transaction.  

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Jindal Drilling Share Price Performance 

As of July 30, 2026, at 3:30 PM, Jindal Drilling share price closed at ₹601.25 per share, reflecting a surge of 4.01% from the previous trading session. 

Conclusion 

Jindal Drilling has received a three-year rig deployment contract from ONGC for its Jindal Pioneer rig at an effective day rate of ₹45.83 lakh ($47,893.99). The contract is expected to commence in Q3 FY27 following the completion of the rig's refurbishment. 

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