Reliance Defence & Engineering, owned by Anil Ambani, signed partnership agreement with US based Allrig for service support of onshore and offshore installations covering regions of Southeast Asia, including India. Through this partnership, Reliance Defence and Engineering’s shipyard at Pipavav (Gujarat) will establish itself as one of the pit stops for service needs of upstream companies in India who require inspection, repair, dry docking, overhaul, upgradation, rectification, maintenance and spare services. The company also confirmed that the estimated market size in India is about Rs.7000 crore.A company statement also confirmed that the partnership between the corporate giants will ensure multiple benefits such as availability of high end services at cheaper costs and minimize the turnaround time for the upstream companies operating at big scale in India with respect to jack-up rigs, drilling rigs and other floating/fixed oil and gas assets. Also, now Reliance Defence & Engineering will be able to offer solution for spares, repairs, and up-gradation and warranty support for critical old equipment for which the original manufacturer support is either not available or possible.
On the announcement of agreement between the two companies, Reliance Defence and Engineering CEO H S Malhi said, “The association with Allrig responds to a real time need of the industry of enhanced service provision in the upstream segment.”
Another senior official of Reliance Group, A K Balyan, CEO, Oil & Gas Business, said ”Reliance Defence and Engineering yard’s excellent location and world class infrastructure, coupled along with Allrig’s superior capabilities will bring up synergies to provide high quality services.”
Both Reliance Defence and Allrig will be targeting and tapping various opportunities existing in the Indian subcontinent and South-East Asian region. However, the association will particularly aim at ONGC and other regional drilling contractor community.
Reference link: http://www.ndtv.com/topic/reliance-defence/news