Dolphin Offshore Enterprises (India) Ltd Share Price

History of Dolphin Offshore Enterprises (India) Ltd

Incorporated in May 1979 as a private limited Company, Dolphin Offshore Enterprises (India) Limited (DOEIL) was converted into a public Limited Company in May '94. It was promoted by Kirpal Singh. The Company went in for Initial Public Offer in 1994 and got its shares listed on the Bombay and National Stock Exchanges. The Company is a leading provider of underwater services to the Indian oil and gas industry. It provides ancillary services like diving, underwater engineering, vessel management, oil exploration and drilling, pipeline inspections, geophysical surveys and geo-technical services. Over the years, it developed a diversified portfolio for undertaking turnkey projects involving sub-sea and marine services and as an EPC contractor. DOEIL's had a strong client list in the energy ...and defence sectors such as ONGC, Oil India, Reliance Industries, Cairn India, Mazagon Dock Shipbuilders Ltd (MDL), and the Indian Navy. The company also boasts significant infrastructure to support its operations, including a 7.8 acres yard located in the East Godavari District of Andhra Pradesh and a 2,227.50 square meter facility in Thane District, Mumbai. The company has entered into a tie-up with the Singapore-based Sembawang Maritime (SML) which will provide the entire range of marine transportation and offshore logistics activities in India. The new joint-venture, SML-Dolphin Maritime Pvt Ltd, has 51% foreign equity participation. In 1994, the Company acquired its first vessel, the GANGA Dolphin. The Company has since expanded its fleet to 1 Accommodation and Work Barge, 4 OSV?s / Workboats and one AHTS. DOEL has successfully undertaken turnkey projects for N N N Japan, ONGC, Mazagon Dock, Essar Oil, Jindal Drilling and other organisations working on the Indian waters. On 31 Dec.'95, the company acquired its first ocean going vessel -- Ganga Dolphin. It is a survey-cum-utility vessel and the only one of its kind under the Indian flag. The company has received ISO 9002 Certification through American Bureau of Shipping ['ABS'] for marine management of vessels, diving and underwater engineering, management of fabrication and offshore turnkey projects and ship repairs. The company has completed the Mumbai North Clamp-on Project during 2001-02. The company is the sub-contractors to Larsen & Toubro Ltd for the turnkey offshore scope of work on the installation of clamps and platform. The company has acquired an Vessel M V Mernaid Explorer during January 2005 at a cost of US$ 2.15 million.This vessel has been acquired from Mermaid Marine Agencies Pvt Ltd.,Australia and the vessel has been renamed as Brahmaputra Dolphin. With completion of BBBLRP Contract, Company, the Company was qualified as Independent Main Contractor for ONGC EPC contracts. In 2010-11, DOEIL supplied & commissioned Distributed Control System, PLC System and Fire & Gas Detection System consisting of - HPM controller & NIM Module at NQD & ICP platform for Monitoring & control of all the process variables for the additional facilities at NQD & ICP Platform. It also supplied & commissioned the PMCC Electrical Panels along with the modification in Switchgear, Cable laying, Glanding & Termination. The wholly owned subsidiary company, Dolphin Offshore Enterprises (Mauritius) Pvt. Ltd. (DOEMPL) and Dolphin Offshore Shipping Ltd. (DOSL) performed well in 2012-13 through which the ownership and Management of the Company was changed with effect from 1st September 2006 and the Company became a wholly owned subsidiary of Dolphin Offshore Enterprises (India) Limited (DOEIL). DOSL had also taken on management in one Anchor Handling Tug, AMS Divine, which is on a BBCD charter from Triton Offshore to Dolphin Offshore Enterprises (Mauritius) Pvt. Ltd. And the vessel was currently under BBC to M/s. Evya, Mexico. In 2015, the Company commenced diving operations in Iran working with SGK and RAL Offshore. The Project 'OGIP - Power to ESP' was envisaged to establish connectivity between three process platforms and their respective 12 unmanned platform by providing power to the wellhead platforms for ESPs. To facilitate this purpose, 55 km of composite submarine cables for power and communication networking were laid. 12 Electrical houses were installed and commissioned at each unmanned platform, including deck extensions, for housing various electrical and control panels. Moreover SCADA system was installed and commissioned in all 3 process platforms to monitor the real time data remotely and the said Project was completed in 2014. In July' 2020, the Company was admitted for Corporate Insolvency Resolution process under Insolvency and Bankruptcy Code, 2016 due to default in payment to bank borrowing or towards outstanding due to its Operational Creditor. The Company was acquired by the Hon'ble National Company Law Tribunal (NCLT) vide Order dated September 29, 2022 and the effective charge and control of the Company has been handed over to the current management w.e.f. January 02, 2023. In 2023, the Company sold its investment in Dolphin Offshore Shipping Limited, due to which Dolphin Offshore Shipping Limited ceased to be the subsidiary of the Company. Company also sold its investments in Global Dolphin Drilling Company Limited and IMPaC Oil and Gas Engineering (India) Private Limited and therefore, the Company had one wholly owned Subsidiary left viz. Dolphin Offshore Enterprises (Mauritius) Private Limited. Beluga International DMCC was incorporated in January, 2024 as the wholly based subsidiary of the Company. DOEIL has started operations of the 'Prabha' DP2 Accommodation Barge, previously known as 'Vikrant Dolphin' in FY 2025. It involved in Anchor Handling Tug Supply (AHTS) operations by acquiring 37% stake in an Anchor Handling Tug through its wholly owned subsidiary Beluga International DMCC in partnership with HF Offshore GMBH, Germany.