United Drilling Tools Lands ₹12.77 Million Venezuelan Export Order for Gas Lift Equipments

United Drilling Tools Ltd. has announced receipt of a significant export order from Union Venezuela Servicios, C.A., Venezuela. The contract, valued at approximately ₹12,773,216 (Rs. 1.27 crore), covers the supply of Gas Lift Equipments, underscoring UDT’s capacity to serve diverse energy markets with specialized oil drilling and production tools.

The agreement is commercial in nature and was awarded by an international entity, solidifying UDT’s global credentials. Execution of the order is expected within three months, aligning with international business standards for oil equipment manufacturing and delivery. Notably, neither the company’s promoters nor group companies have any interest in the awarding entity, and the order does not fall under related party transactions.

This latest win reflects UDT’s ongoing strategy to tap into new overseas markets and expand its footprint in the global oilfield equipment industry.

Key Highlights:

Order secured from Union Venezuela Servicios, C.A.

Product: Gas Lift Equipments

Estimated contract value: ₹12,773,216 (Rs 1.27 crore)

Execution period: 3 months

Nature: International, commercial contract

No promoter or related party interest involved

Order aligns with standard arm’s length practice

Sources: United Drilling Tools Limited, BSE Corporate Filing