Excitement as ONGC revives 4-rig onland offer

Vol 19, PW 25 (25 Aug 16) Exploration & Production
     

Most people would be infuriated that a state-owned company takes four months to prepare the minutes of a pre-bid meeting.

But with ONGC everybody knows that's just how it is. So drilling contractors are actually relieved and somewhat grateful that ONGC released the pre-bid minutes on August 12 of an eagerly awaited attempt to hire four 2000-hp land rigs.

Held on April 5 the pre-bid was attended by the usual coterie of executives from John Energy, Quippo Oil and Gas and Schlumberger. "All I can say is better late than never!" one drilling contractor tells us.

ONGC has now told companies they have until September 2 to bid - unless of course it extends the deadline further. "I don't think ONGC wants to extend the deadline again," says another contractor.

"But some bidders might ask for an extension." ONGC has significantly changed the tender parameters. Earlier it wanted three rigs for its Cauvery asset at Karaikal in Puducherry and one for its Cachar forward base in Assam.

Now it wants two 2000-hp rigs each with a 15,000-psi BoP for its Cauvery asset for three years; one 2000-hp rig with a 10,000-psi BoP for three years at Cauvery; and one 2000-hp rig for its Rajahmundry asset for 18 months. Expected to bid are drillers John Energy, Quippo, Schlumberger, Weatherford, Suraj Impex, Om Metals and Shiv Vani.