Jet beats Aban for ONGC rig contract

Vol 11, PW 17 (10 Jan 08) News in Brief

Singapore-based Jet Drilling has beaten Chennai-based Aban Offshore to clinch ONGC’s three-year contract for a 1000-ft semi submersible when price bids were opened on (Wednesday) January 9 in Mumbai.

Jet bid Energy Driller against Aban’s offer of Aban Pearl – formerly Bulford Dolphin. PETROWATCH learns Aban quoted a day rate of Euros 184,500 plus a mobilisation fee of $5m; Jet quoted $234,000 and a mobilisation fee of $2m.

Despite the 10% price preference available to Indian-owned Aban, Jet’s quote emerged cheaper by $9393, making it the clear winner. A formal contract will be signed in the next few days.

Jet must mobilise Energy Driller within 120 days of the LoI from ONGC. Energy Driller was formerly known as Galaxy Driller and last year drilled for Gazprom in the Mahanadi Basin.

Not all was bad news for Aban, which won ONGC’s separate three-year contract for a 600-ft rig, quoting $164,000/day for Frontier Ice, the sole valid entry, already drilling for ONGC.

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