25/03/2026
Wednesday
News
Oil & Gas
Contract Involves 48-Month Rig Hire With 12-Month Extension Option! 150 Exploration Wells Planned Across Offshore Blocks!
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Deepwater Tender Details
The tender seeks a mix of drillships and semisubmersible rigs for up to five years. This programme is estimated to cost ONGC around $18–20 billion. ONGC is seeking mobilisation of the rigs within 80 days, highlighting its urgency to scale up deepwater activity. The company plans to deploy a mix of high-specification rigs, including three 3000-meter water depth drillships, one 1500-meter semisubmersible rig, and one 600-meter anchor-moored floater rig to support petroleum exploration.
Peer Segment
- Jindal Drilling & Industries
- Deep Industries Limited
- Megha Engineering & Infrastructure Limited
- ONGC
- Hindustan Oil Exploration Company Limited
Fact: On an average, a deepwater drillship or rig costs between $400,000 and $500,000 per day. Key focus areas include the KG Basin, Andaman, and the Kerala-Konkan Basin.