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Production Enhancement Contracts: Tender conditions "suffocating", says service providers
May 08: Even as the government pushes more public sector fields into Production Enhancement Contracts (PECs), the idea itself seems to have made little or no progress.
8The failure of ONGC to obtain more than a single bid and that too for only one of the oil fields on offer -- which also had to be summarily rejected -- is an indication that the E&P major had set its conditions too tight for the three service majors -- Halliburton, Schlumberger and Baker Hughes -- to show interest
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