ONGC hires Quippo and John rigs for Tripura

Vol 19, PW 24 (11 Aug 16) News in Brief

After a tedious court battle and prolonged delay ONGC has finally hired two 2000-hp land rigs for its Tripura asset - one each from Quippo Oil and Gas and John Energy.

On July 23, ONGC issued a LoA to Quippo hiring its rig at $25,000/day. "We received a letter from the Tripura asset on August 1 detailing the mobilisation schedule," confirms a Quippo source, adding that the rig will mobilise by January 2017 to spud its first well.

"ONGC has told us it is preparing the first drill site," he says. Quippo will mobilise Rig 5 stacked at Barmer in Rajasthan since Cairn India abruptly cancelled its contract in February 2015.

"Before going to Tripura," we are told, "the rig will go to Reliance's Cambay block CB-ONN-2003/1 to drill a single well." John Energy, when contacted, confirmed it has also received a LoA from ONGC on July 28. John originally quoted $29,000/day for Rig 31 but was forced to match Quippo's bid.

Last year, ONGC rejected Quippo's bid saying it isn't a 100% subsidiary of parent SREI. But ONGC was forced to open Quippo's bid following a Delhi High Court ruling issued on May 19.

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