Deepwater drilling rig for ONGC

Vol 4, PW 4 (29 Mar 00) News in Brief

Plans are afoot to issue tenders for the hire of a deepwater drilling rig for upstream explorer ONGC.

"Floating the tender is still more than three months away," a senior official tells Petrowatch, "Everything is still at a very preliminary stage." It is understood the rig(s) will have to drill at ocean depths of up to 2,000 metres and will be used in existing deepwater permits held by ONGC - not the new deepwater acreage acquired under NELP. One of these permits,in the Gulf of Kutch off the Gujarat coast, sits in ocean depths of 2,000 metres.

Bikash Bora, ONGC chairman, said the corporation expects to pay $10,000 a day or more for the rig.