Schlumberger wins Oil India offshore contract

Vol 19, PW 13 (10 Mar 16) News in Brief

Schlumberger has won an Oil India tender to provide bundled services for its planned exploration campaign at offshore Cauvery block CY-OSN-2009/2, where Transocean's rig GSF 140 is expected to mobilise in May.

Schlumberger beat Baker Hughes to win the contract by quoting $110,000/day to provide oilfield services and marine logistics to drill one firm exploration well and one optional well. Baker ranked second quoting $142,000/day and Halliburton ranked third quoting $152,000/day.

Schlumberger's total contract value is around $13m. Baker's was $17m and Halliburton's $19m.

Oil India is aiming to issue a LoA to Schlumberger in the third week of March giving it 60 days to mobilise. "Oil India wants services mobilised in early May," says a source.

"Drilling is expected to begin in end-May." Oil India has hired GSF 140 at $158,000/day under a LoA issued on November 6, 2015.

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