India, Oct. 31 -- United Drilling Tools Ltd announced that it has received an export order from Venezuela for the supply of Gas Lift Equipment in the ordinary course of business. The order has been placed by M/s Union Venezuela Servicios, C.A., an international entity, the company said in a regulatory filing.
The contract, valued at approximately Rs 1.27 crore, is expected to be executed within a three-month period.
United Drilling Tools confirmed that the order is purely commercial in nature and that neither the promoter group nor any group companies have any interest in the entity awarding the contract. The transaction does not fall under related party transactions, the company added.
The company said the order aligns with its ongoing ...