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ONGC's $5 billion KG-DWN-98/2: As bidders battle, cost escalates, timelines go haywire
Jul 05:
The deadline for ONGC's $5 billion KG-DWN-98/2 development is likely to to be put off yet another time.
8Well placed ONGC sources also said that the price tag for the development is expected to go up as well despite the fact the tender was floated at a time when prices were really low.
8For one critical competent -- the offshore process platform -- the price estimate is reported to have gone up by a whopping 40% from what was earlier estimated, according to well placed sources.
8That ONGC is struggling with the entire contracting process is evident from the fact that it has not been able to award the tender for the platform even though it was floated in November, 2016.
Click on Details to find out more on how the time lines had been put off in the tender and by how much has the cost could have escalated.
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8Well placed ONGC sources also said that the price tag for the development is expected to go up as well despite the fact the tender was floated at a time when prices were really low.
8For one critical competent -- the offshore process platform -- the price estimate is reported to have gone up by a whopping 40% from what was earlier estimated, according to well placed sources.
8That ONGC is struggling with the entire contracting process is evident from the fact that it has not been able to award the tender for the platform even though it was floated in November, 2016.
Click on Details to find out more on how the time lines had been put off in the tender and by how much has the cost could have escalated.
