In a significant boost to its offshore services portfolio, the M.V. Canara Pride vessel has been deployed under a three-year contractual agreement with Oil and Natural Gas Corporation Ltd. (ONGC). The total contract is valued at $12.27 million (approximately ₹108.9 crore).
The deployment follows a major technical upgradation of the vessel from Dynamic Positioning (DP) Class 1 to DP Class 2, substantially enhancing its positioning precision, operational flexibility, and safety standards. This upgrade has also increased the vessel’s market value and employability, enabling it to take on high-performance offshore assignments in support of India’s expanding energy infrastructure.
The M.V. Canara Pride’s induction into ONGC’s operations underscores the company’s continued focus on strengthening its offshore capabilities and technological readiness to meet the evolving demands of the oil and gas sector.