ONGC expected to extend marginal field bid deadline

Vol 8, PW 25 (23 Mar 05) News in Brief

ONGC is likely to extend the 19th April closing date for its ongoing marginal fields tender in response to requests from bidders.

On 15th March, some 15 bidders attended an ONGC pre-bid in Mumbai and sought clarifications on the tender. Among those attending were two companies each from Malaysia and Canada, three from the US, one from Russia and domestic companies Bharat Petroleum, Hindustan Petroleum, Oil India, Reliance and Tata Petrodyne.

ONGC was told that time is too short to prepare good bids as several had purchased tender documents for more than one cluster of fields. Separate bid documents have to be submitted for each cluster, reveals a source.

This is taking time. ONGC is also clarifying certain issues raised by bidders.

Unless this is done, bids cannot be submitted. All 19 marginal fields are in the western offshore.

ONGC is offering service contracts and not ownership of the oil or gas.