Satya's low bid for ONGC job
Ahmedabad-based Satya Oil Field Services has bid lowest for a three-year contract for well and well logging services from ONGC's Ahmedabad asset.
When ONGC opened price bids in the first week of April 2024, Satya quoted Rs14.40cr ($1.7m). Mehsana-based BSCC Exploration came second with Rs14.74cr ($1.8m), AD Enterprise quoted Rs14.87cr ($1.8m), Gandhinagar-based Safal Hospitality and Maintenance Services quoted Rs14.90cr ($1.8m) and Ahmedabad-based Western Oil Field Services quoted Rs15.35cr ($1.8m).
"Satya's quote was not only the lowest but even lower than ONGC's estimated budget of Rs14.99cr ($1.8m)," says an ONGC source. He adds that ONGC has yet to award the contract for the services needed from June 1 (2024) to May 31 (2027).
ONGC opened technical bids on February 26 (2024) after inviting offers on January 22 (2024). Two companies failed to clear the technical evaluation round: Real Enterprise and Metro Security and Technical Services.
If selected, Satya must support ONGC during open hole/cased hole logging operations and regularly repair and maintain logging equipment and logging facilities or vehicles. Incorporated on April 23 (2010), Satya needs to deliver perforating items, fishing equipment, and other accessories.
Satya must load and carry downhole devices, calibration blocks and other associated equipment and liaise with the logging crew for about 1200 jobs every year. Also in the scope of work is unloading logging equipment at drill sites and placing the equipment at specified places, plus helping logging staff carry out work at the drill site's catwalk area (an elongated platform to the side of a rig where the pipe is laid out and lifted into the derrick).
Satya must maintain the derrick floor, engine floor, rig mast, BOP, accumulator, pump, and equipment and assist with miscellaneous jobs for workover and well testing during rig or wireline operations.