ONGC prepares 2-floater tender

Vol 20, PW 6 (01 Dec 16) News in Brief
     

Worried that Essar Wildcat and Badrinath might never mobilise, ONGC has begun preparing a tender to hire two other semisubmersible rigs instead, one for 600-feet and the other for 1000-feet water depths.

"ONGC's drilling department has prepared a proposal to hire two rigs," said a driller. "There's no sign of Wildcat or Badrinath and ONGC can't wait forever." Wildcat, hired by ONGC in February at an ODR of $104,350, was seized by Norscot Rig Management last month (October) at the Sembawang Shipyard in Singapore over an unpaid $12.4m bill.

When contacted an Essar source expresses surprise at reports ONGC might issue a fresh tender. "What you're saying is news to me," he said.

"What we're hearing in the company is that Wildcat will be ready for mobilisation soon." ONGC meanwhile has granted GOL Offshore an extension till February 2017 to mobilise Badrinath. "ONGC is riding two horses," we hear.

"It isn't confident Badrinath will be mobilised in time as two extensions have already been given. That's why it is preparing a new tender."