Imminent tender for deepwater joint venture

Vol 4, PW 14 (16 Aug 00) News in Brief

Moves are underway to invite joint venture partners for six deepwater blocks awarded to ONGC on a nomination basis.

This report understands ONGC's board has reached agreement on the bid evaluation criteria that will be used to select future deepwater joint venture partners. "The board has approved the criteria and these will now be submitted to the Commitee of Secretaries for approval," learns Petrowatch.

Tenders will be issued once the cabinet approves the new criteria. "We will then invite them (oil companies) to our data room to inspect the data." A senior source adds that British Gas and Total have shown interest in talking to ONGC about the deepwater blocks.