SK Moitra agrees 'mobile' rig for Tripura

Vol 22, PW 1 (18 Oct 18) News in Brief

ONGC managers in Tripura appear to have won "in-principal approval" from director onshore SK Moitra for the purchase of a state-of the art mobile 'self-propelled' rig amid growing unhappiness with the performance of rigs hired from private contractors, among them John Energy and Quippo.

"At the Tripura asset we have three ONGC company-owned rigs and three hired rigs," reports a source. "Our own (ONGC) rigs are performing much better than the hired rigs even though they are decades older."

Our source adds ONGC rigs can drill up to five wells every year while hired rigs end up drilling only one or two a year resulting in routine cost over-runs and missed drilling targets. Moitra's in-principal approval for a mobile rig loaded on a vehicle that can be swiftly transported from location to location on a vehicle came during a marathon four-hour review meeting with Tripura asset manager GK Singha Roy on October 13.

"With a mobile rig we can drill the many wells we have that go to only 3500 metres depth," adds our source. Singha Roy was unavailable for comment.