ONGC planning new marginal fields tender

Vol 9, PW 13 (06 Oct 05) News in Brief

ONGC is planning two more tenders by December this year for development of its marginal fields.

One tender will be for onshore fields and the other for offshore fields. About 20 marginal fields in Assam, Rajahmundry, Cauvery, Karaikal and Rajasthan figure in the onshore tender.

Some of them were offered in the first tender for onshore fields but most are new. These fields contain both oil and gas, we are told.

ONGC also plans to re-tender most of the 19 western offshore marginal fields that received no bids in the first tender, now under evaluation. ONGC only received bids for two of the nine clusters and is now re-clustering the fields that received no bids.

Theyve reprocessed old seismic data and want to retain about three of these new clusters for in-house development, we learn. The rest will be offered again with some new western offshore fields added in.

Both tenders will be issued in December.