ONGC opens 5-rig price bids shortly

Vol 11, PW 7 (09 Aug 07) News in Brief

ONGC will open price bids for five onland rigs, most likely by August 16th.

Eight companies submitted bids for the tender on May 23rd: John Energy, Quipco, Dewanchand Ramsaran, Shiv-Vani, Weatherford, MB Petroleum, Varun Industries and Essar. All bidders were asked to submit answers to ONGC’s queries by August 2nd.

Based on the replies, ONGC will further shortlist companies and open the price bids of those who qualify. ONGC is offering three-year contracts for each rig and has asked contractors to bid mud and cementing services, plus directional drilling options.

“Both ONGC and bidders had many queries,â€‌ says ONGC, explaining the delay “Each time bidders had queries we had to seek management approval.â€‌ Bids are valid for 120 days from May 23rd.

ONGC wants the rigs mobilised within six months of the LOI. ONGC released this tender in December 2006 for two rigs at Ankleshwar, two in Ahmedabad and one for Jammu and Himachal Pradesh.

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