Dolphin bids lowest in ONGC offshore 3D tender

Vol 19, PW 4 (22 Oct 15) Exploration & Production
     

Dolphin Geophysical has bid lowest in ONGC’s tender to shoot 4285-sq km 3D in the eastern and western offshore using 'broadband' technology to process the data.

This is the fourth 'broadband' assignment taking place in India, after jobs carried out by BG, Reliance, and ONGC. When ONGC opened price bids on October 15, it found Dolphin quoted lowest at $42m followed by WesternGeco quoting $45m.

Surprisingly, hot favourite CGGVeritas did not confirm the availability of any of the 10 survey vessels offered and so its price bid was not opened. Similarly PGS did not confirm any of the seven vessels it offered.

Industry sources say the response was poor as companies feel seismic acquisition work is picking up elsewhere in the world so why bother with ONGC’s onerous tender terms. What are these? “To acquire this volume of data it takes 5 and a half months and 'broadband' processing takes another 12 months,” says an industry source.

But ONGC wants data acquisition completed by May 31, 2016 and 'broadband' processing by December 31, 2016. But this does not factor in unforeseen work disruptions.

For example, in the KG basin, where ONGC wants 370-sq km 3D shot at its GS-29 block in water depths of 20-800 metres, WesternGeco and Dolphin lost time and money last year shooting seismic in nearby areas after equipment was damaged by submerged fishing nets.