Oil and Natural Gas Corporation (ONGC) is eyeing at production enhancement contracts (PECs) and enhanced oil recovery techniques to boost oil and gas output from old and matured fields. The company plans to bring in service providers with advanced technology in operation of its oil and gas fields by offering them a PEC where they would get a pre-determined fee for incremental production over a baseline. ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
Seamec has entered into a Charter Party with Aqua Omega Services for charter hire of vessel `SEAMEC PRINCESS` for working at Mumbai High Offshore. The tenure of the contract is for a firm period of 7 days with option for extension and the contract commenced from November 17, 2018. The value of Charter during firm period is $1,71,500.Seamec is engaged in the business of operating multi-support vessels for diving and for providing underwater/sub-sea engineering services, deep sea diving, and inspection of underwater structures, repairs and maintenance of offshore platform fire-fighting services and rescue operations.
Infosys has started construction on its US Education Center in Indianapolis. This state-of-the-art training campus and residential center for its employees and the employees of select clients will prepare the American workforce for the technology jobs of the future, and also begin to revitalize a 70.5 acre site on the West Side of Indianapolis on the grounds of the old Indianapolis airport terminal.The company is providing an initial investment of $35 million to create the first 125,000 square feet of development, transforming the 70.5-acre site into an innovative training center. The company’s investment will fund major infrastructure efforts as well as beautification projects. Infosys is a global leader in technology services and consulting. The company enables clients in 45 countries to create and execute strategies for their digital transformation.
Mahindra & Mahindra (M&M) has opened its second off-road training academy in Mangaluru. Spread over 150 acres, the academy offers state-of-the-art facilities and equipment that includes wireless equipped Mahindra Thar 4x4 CRDe training vehicles. The academy would run two courses: basic-level which is ‘Getting Dirty’ and the intermediate-level which is the ‘Trail Survivor’. M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
Shah Alloys has reported results for second quarter ended September 30, 2018.The company has reported net profit of Rs 20.10 crore for the quarter under review against net loss Rs 3.59 crore for the same quarter in the previous year. Total income of the company increased by 28.30% at Rs 148.88 crore for Q2FY19 as compared Rs 116.04 crore for the corresponding quarter previous year.Shah Alloys is engaged in the manufacturing of stainless steel. The company also has a minor operation in the form of a medical store.