“We are abandoning offshore business, we tried our best to have a collaboration but we could not get one as the investments were heavy and we had to construct them (rigs) in West Asia,” K Ravi Kumar, BHEL chief managing director.
“We are doing onshore rigs with ONGC and Oil India (OIL), we want to change from DC (direct current) drive to AC (alternating current) drive,” Kumar added.
In 2004, BHEL signed a memorandum of understanding (MoU) with OIL for the refurbishment and upgradation of their land rigs.
