Three ONGC rig tenders with two more to come

Vol 18, PW 19 (21 May 15) Exploration & Production

ONGC has issued three offshore rig contracts this month (May) with plans for two more, raising hopes of a contract bonanza among drillers.

First was a tender on May 5 to hire three anchor-moored floaters that can drill in water depths of 762 metres (2500 feet) on a three-year contract. "Drillers can offer an anchor-moored semi-submersible or a drillship," says a contractor.

"Many could be available if ONGC awards contracts on time." At the pre-bid scheduled for June 2 in Mumbai, ONGC can expect contractors to raise concerns over its tight mobilisation schedule.

"ONGC wants rigs mobilised from December 1, 2015 to January 1, 2016," says another driller. "This is possible only if ONGC awards contracts by end-August this year (2015).

" ONGC wants bids in by July 1. Likely bidders include Diamond Offshore, Seadrill, Transocean, Ensco and Jindal Drilling.

Expect rates of around $300,000/day. Next ONGC issued a tender on May 12 to hire two high spec jack-ups which can drill in water depths of 92 metres (300 feet) for three years.

Jindal is expected to offer new-builds Jindal Pioneer and Jindal Explorer while Greatship India is expected to offer Greatdrill Chitra, hired to BG at $119,000/day till December 2015, with an option to extend till April 2016. Deepwater Drilling and Foresight Oil might also offer rigs.

ONGC will hold the pre-bid on June 10 and wants bids in by July 9.

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