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ONGG's plans to buy more rigs: Already beginning to bite the private rig industry
Sep 21: ONGC's plans to buy its own onland rigs are already beginning to bite
8Earlier plans to hire a third party rig for a Rs 1300 crore field development plan has now been shelved, instead a new company-owned 2000 HP rig will do the job
8Already existing rig contracts with the likes of Quippo and John Energy will continue until the expiry of the contract periods.
8The current project involves the development drilling of 27 wells, conversion of 37 exploratory wells and laying of associated flowlines
8The project also involves the construction of 2 pipe manifolds and connectivity to a Gas Grid Network. The environmental clearance for the project is under process. Further RFQs are expected shortly.
8Project Event: RFQs for the hiring an EPC contractor are expected by December 2018
8Expenditure Approval: Q2/2017
8RFQ Date: Dec/2018
8Release Date: Jan/2019
8Start Date: Jun/2019
8Completion Date: Dec/2021
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