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ONGC rig news-III: L-1 day rates are likely to be too low for the second bidder
Apr 10: Find out why it is quite likely that only one company will emerge a winner in the three-rig  tender
8The second bidder's rig costs are too high to be able to compete in the low-day rate environment that prevails for jack-up rigs on hire by ONGC.
8So what then, was the second bidder's rationale for participating in the bidding process?
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