Indian E&P engineering companies-I: Are they in trouble?
Apr 27: The Indian E&P industry, led by ONGC, has spawned many home grown specialist vendors. And one such set of vendors is a clutch of engineering companies with offshore design capacities. 8These engineering outfits piggy backed on big international EPC companies which have built ONGC's impressive offshore E&P infrastructure. Tutored by foreign EPC companies, a new breed to pushy desi entrepreneurs dipped into the big and cheap pool of talent available in India to provide the engineering services needs of the EPC companies. 8Among the successful lot of companies were two which stood out, Nauvata Engineering and Triune Energy Services. 8But then again, it is not always easy to sustain the success as Triune found out recently when it failed to deliver in a big ONGC project. 8The failure to deliver on two Rs 2000 crore platform life extension projects of ONGC lead to a concerted effort by the consortium partners to oust Triune from the project. Find out more on what happened next