ONGC accepts controversial CBM bid
ONGC is courting controversy by accepting a late bid from Great Eastern in a tender to farm out 35% at its Jharia, Bokaro, North Karanpura and Raniganj North CBM blocks.
Great Eastern employees were stuck in a traffic jam and submitted their bid minutes after the 3pm deadline on December 21. Rival bidders Dart Energy and Jindal Steel and Power want ONGC to reject Great Eastern’s bid.
But ONGC, ignoring their pleas, will award contracts by end-February. “Getting work done at CBM blocks is important to us,” says a top ONGC official.
“After evaluating the bids we will take the proposal to our board for approval.” ONGC confirms Great Eastern’s bid was late.
“How can ONGC break CVC rules barring it from accepting late bids” wonders a source. “Its tender document said it wouldn’t take late bids.
” Great Eastern bid for the Raniganj block, Dart bid for all four blocks, and a consortium of Jindal and US-based Kinley Exploration bid for two blocks and so did Deep Industries.
