DeGolyer wins Oil India OALP-9 mandate
DeGolyer & MacNaughton (D&M) has won an Oil India technical due diligence contract across ten OALP-9 blocks available for bidding.
On April 3 (2024), Oil India awarded the Rs3.55cr ($425,000) contract to Dallas-headquartered D&M after inviting offers on March 22 (2024) with a March 29 (2024) bid deadline. French contractor Beicip-Franlab's Indian subsidiary also bid.
"Both qualified in the technical bid evaluation round," says an Oil India source. After technical evaluation, Oil India opened price bids with D&M quoting Rs3.55cr and Beicip-Franlab India quoting significantly higher: Rs4.70cr ($562,600).
Oil India evaluated bids under the Quality and Cost Based System (QCBS), where 80% reflects technical competence and 20% the price. After evaluation, D&M received the highest marks.
According to the tender document, Oil India wants D&M to carry out an integrated interpretation of geo-scientific data, including 2D, 3D and well logs, to understand basin prospectivity and analyse individual blocks along with any wells drilled. With 28 blocks on offer, OALP-9 was launched on January 3 (2024) with a May 15 (2024) bid deadline.
Nine blocks are onshore, eight are shallow water, and 11 are ultra-deepwater blocks spread across 136,596.45-sq km in eight sedimentary basins. Sixteen blocks are in prospective Category-I basins, which have reserves and are already producing; 12 are in Category-II basins, which have contingent resources to be developed and produced.
D&M will focus on ten blocks shortlisted by Oil India, which will provide the G&G data, including 2D, 3D, well logs, well completion reports, and geological and reservoir reports. An evaluation must be completed within 31 days.
Oil India needs advice on which OALP-9 blocks to bid for and a summary of the parameters used to prepare the final shortlist. A financial model and suggestions on future exploration strategies must be included in its report.
Oil India will provide 28,510-lkm of available 2D and 10,080-sq km of 3D plus details of 137 drilled wells.