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India Calls for Bids to Replace Nearly Half Its Onshore Rig Fleet

India Calls for Bids to Replace Nearly Half Its Onshore Rig Fleet

From Economic Times India’s state-run explorer looks at replacing nearly half of its ageing 67 onshore drilling rigs, floats tender seeking bids by November 14 New Delhi: Oil and Natural Gas Corp (ONGC) is planning to purchase 27 drilling rigs to replace nearly half of its ageing onland rigs in a deal that could cost Rs 3,000-3,500 crore. The state-run explorer has floated a tender seeking bids from interested suppliers by November 14. ONGC had initially planned to purchase nearly 50 rigs but later curtailed it to 27. Fresh purchases will help partly replace its ageing fleet of 67 drilling rigs that’s currently operating at its onshore fields, a company executive said. “Most of our onshore rigs are old and that have an impact on the quality of operation. Which is why we are trying to replace them. New rigs will make things more efficient,” a company executive said. ONGC has traditionally[Read More…]