Transocean floater

Vol 15, PW 6 (22 Sep 11) News in Brief

Sole bidder Transocean has quoted an Effective Day Rate of $301,000 for its rigs GSF-135 and GSF-140 in ONGC’s tender to hire a ‘floater’ that can drill in water depths of 600 metres.

PETROWATCH learns ONGC opened Transocean’s price bid on September 9, despite objections from Delhi-based driller Shiv Vani, which was also keen to bid. Shiv Vani wanted ONGC to extend the submission deadline from July 25 to August 17, but its request was refused.

Sixteen companies originally bought tender documents for this contract but only Transocean bid, according to an industry source, as only it has rigs available that can drill in a High Pressure/High Temperature sub-surface environment. Still, ONGC is expected to ask Transocean to lower its rate.

“Transocean knows it’s in an unassailable position,” says a driller. “But it might reduce its price by $5000/day or so to keep ONGC happy.

” ONGC wants the rig mobilised within 90 days of its Letter of Intent to drill five wells.