IndianOil rig tender

Vol 15, PW 20 (19 Apr 12) News in Brief

IndianOil is likely to issue tenders this week to hire a rig and allied services to drill four Phase-I committed exploration wells at its 81-sq km NELP-VII onland block CB-ONN-2005/2 in Gujarat.

On April 11, IOC and Chennai-based Ajapa Integrated Project Management Consultants finalised a shortlist of pre-qualified contractors. IOC wants a 1200 to 1500-hp land rig for the drilling campaign, expected to begin by December.

It also needs ‘long-lead’ consumables like casings, tubulars, well-heads, and Christmas trees. John Energy, Shiv Vani and Bhavani Oilfield Services are believed to be among the companies who submitted EoIs to IOC by February 9.

IOC believes each well should take a month to drill to 3400 metres TD, targeting the Kalol, Kadi, Cambay, Shale and Olpad geological formations. IOC (100%) launched itself as an upstream operator by signing the PSC for CB-ONN-2005/2 on December 22, 2008, later securing the all-important Petroleum Exploration License on September 22, 2009.