NEW PROJECT - ONGC marginal fields tender

Vol 16, PW 12 (10 Jan 13) News in Brief
     

Service contractors can look forward to an ONGC tender to operate 26 marginal fields on its behalf, which it is likely to issue next month (February).

ONGC’s Executive Purchase Committee (EPC) should approve the proposal by the end of January. “We will float the tender as soon as we get EPC clearance,” confirms ONGC.

On offer will be 13 offshore fields on the west coast and 13 onland fields. Of the offshore fields, seven have more than a million tonnes of in-place oil or oil equivalent gas each.

By contrast each of the 13 onshore fields holds less than a million tonnes of in-place oil or oil equivalent gas. Six onshore gasfields lie in Andhra Pradesh, three gasfields are in Rajasthan and four oilfields are in Gujarat.

ONGC will offer international crude oil prices to service contractors but gas prices will be fixed by the oil ministry in line with national policy. ONGC wants a minimum 30% share of production revenue and will offer the fields to whoever offers the highest returns.

Click here for details of 26 marginal fields on offer from ONGC