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L&T's missed Daman deadline causes Rs 1000 crore loss to ONGC-IV: Big mess up in scheduling
Jun 20: Critical time was lost in the award of contract for the Daman project after Swiber went bankrupt
8On hindsight, in the face of the Rs 1000 crore loss, could ONGC have acted faster?
8Swiber was awarded the contracts in February, 2015, with the completion of the project in two phases, one in March, 2016 and another in March, 2017
8The point to note is that the subcontracts were already awarded by Swiber before it went down.
8All that ONGC had to do was push through and revive these contacts
8The delay has been costly on two counts: the cost of the project went up by $ 100 million from around $ 310 million earlier. But more importantly, the opportunity cost of lost gas is much more
8What needs to be investigated is the sequence of events afterwards and what caused the delay and why
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