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EOR in ageing fields: ONGC deal with Schlumberger and Halliburton headed nowhere
Jul 18: ONGC seems to have turned away from capitalizing on the Production Enhancement Contracts (PECs) signed with much fanfare during Petrotech-2016 with Schlumberger and Halliburton during Petrotech-2016.
8ONGC signed a Statement of Intention to Collaborate (SoIC) with Schlumberger for a "Production Enhancement Contract" to improve recovery from the Geleki field of Assam Asset and a "Summary of Understanding (SoU)" with Halliburton to cooperate on enhancement of production in the Kalol field in the Ahmedabad Asset.
8The public sector oil major has been trying for more than a decade to work out a risk sharing partnership with service providers for its aging fields but without success
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