The company has executed several orders through its marketing representatives. Recently, some of its bids are under active consideration for projects in Vietnam, which are expected to convert into orders.
This representation will open opportunities for UDTL to expand its market base in Vietnam with major E&P companies like Vietnam National Petroleum Group, Vietnam Oil and Gas Group, Vietsovpetro, PJSC Rosneft Oil Company, Petro - Vietnam and PerencoSA.
Further, recent expansion of offshore exploration and production (E&P) activities in Vitenam have steadily created a growing market for oil and gas equipments with an addressable market size estimated at approximately Rs 400 crore. This will open up a sizable opportunity for UDTL to increase its market share in Vietnam.
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