ONGC awaits IEMs decision on Quippo
ONGC is waiting anxiously to see how its Independent External Monitors (IEMs) rule on Quippo’s disqualification in an onland tender to shoot, process and interpret 40,835-lkm of 2D across 11 sectors.
PETROWATCH learns the IEMs heard Quippo’s arguments on January 4. Under scrutiny is whether Quippo is eligible as it is only 99.92% owned by its parent SREI Infrastructure when ONGC’s tender conditions say it must be a 100% subsidiary to cite its parent’s financial strength.
“We’re awaiting the IEMs’ decision,” says a government source. “Quippo told the IEMs about a few past tenders where ONGC accepted bids though the company was not a 100% subsidiary of its parent.
” Quippo is confident it will qualify but ONGC officials worry that if it is disqualified it might appeal and delay the tender further. Some ONGC officials even have a conspiracy theory that Quippo is a front for blacklisted Shiv Vani to bid.
A rival says Quippo is not a seismic company and does not have the necessary equipment so Shiv Vani will do the work on the ground. However both Quippo and Shiv Vani strongly deny this.
“Quippo and Shiv Vani are separate companies.” says Prakash Singhee, former director at Shiv Vani and current president at Texas Oil.
“They have no connection. If Quippo doesn’t have equipment it can easily buy it from the market.
Shiv Vani’s equipment is five years old and cannot be used for the ONGC contract.”
