Satya wins ONGC contract
Ahmedabad-based Satya Oil Field Services has won a three-year ONGC production testing contract after a tender where ONGC disqualified a staggering fourteen bids.
When ONGC opened price bids last month (July 2024), it found that Satya had quoted Rs68.54 lakhs ($82,000), lower than ONGC's estimate of Rs98.91 lakhs ($117,800). Santosh Associates quoted Rs93.5cr ($11.1m).
Satya and Santosh were the only two out of 16 bidders to qualify. ONGC invited offers on May 21 (2024) and received bids by June 11 (2024), opening technical bids the same day.
Others who responded but failed to qualify included Almighty Manpower & Security Services, Hi-Tech Security, Angel Manpower & Security Services, King and Angel Diamond Services, Om Vigilance Security and Placement Services, and Pinakine Secure Security Solutions. ONGC needs production testing services at different onshore locations, such as the Vindhyan block in Madhya Pradesh, the Himalayan Foreland block in Himachal Pradesh, the South Rewa block in Madhya Pradesh and the Ganga Valley block in Uttar Pradesh and Bihar.
Under the contract, Satya must install, remove, pressure test, and functional test the blowout preventer and the X-Mas tree; Satya must also assist in hydrofracturing, acid stimulation, and surfactant jobs plus liquid nitrogen or compressor application and coiled tubing operations. Others who sent in bids were Pranavam Solutions, Safe Shadow Security Services, Sky High Secure Security Services, SMVD Group Secure Services, TSR Advancement, Vaikunth Group Enterprises, and Tripathi Brothers Services, which bid twice.
A source claims some are umbrella companies run by former ONGC employees hoping to subcontract work after winning it from ONGC.