PGS matches Wavefield bid in ONGC tender

Vol 12, PW 9 (18 Sep 08) News in Brief

Seismic contractor PGS has matched the lowest bid by Wavefield Inseis in a 3D tender from ONGC for November 2008 to May 2009.

Wavefield was the lowest of three bidders for three November to May seasons from 2008-09 to 2010-11, when price bids were opened on August 29. For 2008-09, PGS was the highest bidder at $74m, but matched Wavefield’s $58m bid, in line with ONGC’s new â€کreverse auction’ system.

“We took a strategic decision to match the lowest bidder,â€‌ confirm PGS. “We want to increase our presence in India.

â€‌ For the second and third seasons, Wavefield was unmatched and winner. ONGC wants three 3D vessels, each for the first two seasons and two for the third.

“Wavefield and PGS will get contracts for two vessels in the first season,â€‌ we hear, “and Wavefield will get contracts for two vessels for the next two seasons.â€‌ ONGC is likely to re-tender for one vessel in the first season, two for the second, and one for the third.