Deep Industries, a leading oil and gas field service provider, has announced a significant new contract, marking a major milestone in its expansion strategy within the domestic energy sector. On Friday, the company revealed that it has secured a ₹63 crore contract from Oil and Natural Gas Corporation Limited (ONGC) for providing essential services at the Rokhia Gas Compression Station (GCS) in Tripura.

Contract Overview
The contract involves the installation and operation of a skid-mounted modular gas separation system and gas compression units at the Rokhia GCS. This comprehensive agreement not only covers the setup of these critical gas processing systems but also includes long-term operation and maintenance services over a period of three years. The scope of work ensures that Deep Industries will be responsible for the continuous upkeep and efficiency of the gas compression infrastructure, reinforcing its commitment to quality and reliability in the energy sector.

Strategic Importance
This contract is a strategic move for Deep Industries as it aligns with the company's ongoing efforts to expand its footprint in the Indian energy sector. The agreement with ONGC underscores the company's expertise in gas processing technology and its capability to handle significant projects within the oil and gas industry. The contract not only enhances Deep Industries' service portfolio but also solidifies its position as a key player in the domestic market.

Market Reaction
Following the announcement of this substantial contract, Deep Industries' stock saw a notable uptick. The shares were last recorded at ₹359.20, reflecting a nearly 2.5% increase from previous trading levels. This positive movement in the stock price highlights investor confidence in the company's growing market presence and its ability to secure high-value contracts.

Future Prospects
With this contract, Deep Industries is poised to make a significant impact on the gas compression and processing sector, further establishing its reputation for delivering reliable and effective solutions. The project at Rokhia GCS is expected to be a pivotal component of the company's portfolio, contributing to its long-term growth and success in the energy industry.

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