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Daman development delayed-I: Two years and counting
Apr 21: The Daman development project was touted by the ONGC brass as the much needed fillip to ONGC's attempt to stem the natural decline in output in the gigantic Bassein field, which has been in production for the past 30 years.
8Peak gas output from the Daman development was pegged at 8 mmscmd
8First gas was meant for end 2016 but the outlook now is uncertain given that one of the key contractors of the project, Swiber Offshore of Singapore, which was meant to build the five drilling platforms and the subsequent tie-in of these installations in the Daman field, ended up filing for bankruptcy.
8ONGC has been desperately trying to get the project going with Swiber's sub contractors.
8It looks like the project will get delayed by at least two years if not more
And it is likely to cost ONGC an extra $ 150 million


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