Oil India one-well tender attracts 4 bidders

Vol 18, PW 11 (29 Jan 15) News in Brief

Transocean and Essar are favourite to win a long-delayed Oil India tender to hire an anchor-moored semisubmersible rig for its Palk Strait block CY-OSN-2009/2 in the Palk Strait between India and Sri Lanka.

On January 28, Essar, Deepwater Drilling, Transocean and Seadrill Offshore submitted bids. Essar offered Essar Wildcat, Transocean offered GSF 140 and MG Hulme Jr.

, Deepwater Drilling offered Noble Max Smith and Seadrill offered West Eclipse in West Africa and West Eminence in Brazil. Oil India immediately disqualified Seadrill as it offered Dynamic Positioning system rigs.

Drilling contractors were frustrated because Oil India pushed back the bid deadline thrice. Yet, Oil India is confident it can evaluate bids within a month, issue the LoA in March, and begin drilling by July 2015.

Oil India needs the rig to drill a single $70m well to 5200 metres TD in water depths of 400 metres, targeting Cretaceous age Nannilam and Sattapadi formations.

LNG Summit