Expect ONGC to extend 5-floater bid deadline

Vol 18, PW 22 (02 Jul 15) Exploration & Production

ONGC looks in no hurry to award tenders for five floaters for three years.

Still under preparation is a Field Development Plan (FDP) for blocks KG-DWN-98/2 and G4 where the rigs are to be deployed. "ONGC is behind schedule," says a driller.

"Development drilling can begin only after the FDP is approved. I think ONGC will need the rigs only in mid-2016." ONGC, he adds, can expect bids of around $300,000/day to drill 45 development wells.

But drillers expect it to push back its July 1 bid deadline as it has yet to respond to queries raised at two separate pre-bids on June 2. "Every time we call ONGC it says it will reply soon," said a driller on June 23.

"No date has been fixed. I don't expect replies before early July." ONGC must give drillers 21 days to submit bids from the date it replies to queries.

A senior ONGC source when contacted on June 23, didn't rule out a deadline extension. "We received many queries," he said.

"We might extend the deadline." Twenty companies bought papers in ONGC's tender to hire two dynamically positioned floaters which can drill in water depths of 1500 metres (4921 feet). Fifteen bought documents in ONGC's tender to hire three anchor-moored semis which can drill in water depths of 762 metres (2500 feet).

ONGC wants rigs mobilised between December 1, 2015 and January 1, 2016.