Shiv Vani rigs

Vol 15, PW 11 (01 Dec 11) News in Brief

Shiv Vani Oil & Gas is gearing up to mobilise three onland rigs for ONGC by April 18 next year.

PETROWATCH learns ONGC issued a Letter of Intent (LoI) to Shiv Vani on October 18, after it emerged lowest bidder in a keenly-fought rig tender. “We are on schedule and will mobilise all three rigs by ONGC’s deadline,” confirms a Shiv Vani source.

“We might mobilise them even before the deadline.” ONGC opened price bids on September 30 in its tender to hire one 1000-hp rig for its Ahmedabad asset in Gujarat for three years and two 2000-hp rigs needed at Karaikal in Puducherry for two years.

Shiv Vani quoted Rs449,684/day ($8490) for the Ahmedabad rig and Rs843,292/day ($15,921) in total for the two Karaikal rigs. GTC Oilfield Services ranked second for the Ahmedabad contract, quoting Rs474,463/day ($8,958) while Sun Drilling ranked second for the Karaikal contract, quoting Rs1,109,327/day ($20,945).

Jindal Drilling, John Energy and Sitaram Energy also bid.