ONGC seismic deadline on 29th January
ONGC has set 29th January as the cut-off date for bids to charter hire a seismic vessel.
Contractors welcome ONGC’s decision to hire a minimum six-streamer vessel for three seasons as a way of capping prices that have seen seismic rates soar by 40% over the last 12 months. “Most oil companies hire seismic vessels on a project-to-project basis,†says a potential bidder.
“Charter hiring a vessel for three years is not normal but definitely the sensible way to go.†Bids for a six-streamer vessel typically range around $150,000 per day yet contractors admit to “challenges†in the tender that allows them to bid for eight, ten or 12-streamer boats.
Three years is a good term and ONGC is likely to get what it wants,†adds a source. “Over the next two years a lot of extra capacity is coming onto the market.
†Possible bidders include PGS, Wavefied Inseis and SCAN Geophysical from Norway, Western Geco, CGG and Fugro. Only Western CGG and PGS are believed to have spare capacity.