Panna rig tender

Vol 14, PW 18 (10 Mar 11) News in Brief

PMT partners BG, Reliance and ONGC issued a fresh tender on March 5 to hire a jack-up to drill eight development wells in water depths of 300-feet from the PL platform at the Panna oil and gasfield.

PETROWATCH learns PMT partners believe they can complete this drilling programme in eight months but could ask the rig to drill another four ‘optional’ wells’ in which case the contract would be extended by four months. PMT wants drilling to begin at Panna by April 30.

Interested companies must submit technical and price bids on March 11 so the contract can be awarded by April 14. “You can expect quotes from $70,000 to $75,000/day,” says a source.

“This is the approximate day rate paid to jack-up Ensco 53 when she was working for the PMT consortium.” In the past, jack-ups Ensco 50, Ensco 53 and Vicksburg have drilled at the Panna oilfield.

BG (30%) jointly operates the Panna, Mukta and Tapti fields offshore Mumbai with Reliance (30%) and ONGC (40%).