Oil Natural Gas Corporation News

Subsea services provider Kreuz Subsea said it has been awarded a contract to deliver subsea completion work for Indian multi-national conglomerate, Larsen & Toubro (L&T) from the start of 2018. The contract, worth an undisclosed eight-figure sum, will see Kreuz Subsea support L&T to install all riser clamps, risers, crossing works, tie-ins, subsea trenching and hydro-testing of pipelines which are part of the Oil & Natural Gas Corporation’s (ONGC) Pipeline Replacement Project (PRP4) and Daman Field development projects off the west coast of India.

L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has signed an offshore contract for ‘Bassein Development 3 Well Platform & Pipeline Project’ with Oil & Natural Gas Corporation (ONGC). Larsen and Toubro stated in a stock exchange announcement that the contract is valued at approximately 1,483 crores (approximately 229 Million USD). The order, won against International Competitive Bidding, encompasses ‘EPCIC’ – Engineering, Procurement, Construction, Installation and Commissioning - for the project. The EPCIC scope of the project includes three new wellhead platforms, 23- kilometer subsea pipeline, composite subsea power cable, clamp-on works on an existing platform and modification work on nine existing platforms in the western offshore basin in India.

The Oil & Natural Gas Corporation (ONGC) Board is expected to take up a proposal to place orders with the Netherland's IHC Offshore & Marine BV for a well stimulation vessel for about $244 million against the company's budget estimate of $150 million. The reservations over the contract stem from the fact that IHC Offshore & Marine was the only bidder that was technically qualified and it quoted a price of $254 million for the vessel, or nearly 70% higher than ONGC's estimate, reports 'The Times of India'. Sources indicated to the newspaper that the proposal may not find an easy passage in the board, with a section of the management holding the opinion that the contract should be retendered to avoid vigilance complaints. Source: The Times of India

Technip, in a consortium with Afcons and TH Heavy Engineering, awarded offshore India contract. The contract, worth in total about 50-million Euros, awarded by Oil & Natural Gas Corporation Ltd (ONGC), is for the Heera Redevelopment (HRD) process platform project in the Arabian Sea, approximately 70 km South-West of Mumbai, India. Installation of a new bridge connecting the existing HRC process platform, the strengthening of the existing bridge and the modification on an existing HRC process platform to ensure interconnections between all the process lines and the utilities. Technip’s operating center in Mumbai, India will execute the overall engineering and procurement of tagged equipment of the project.

Shipping Corporation of India (SCI), is planning to acquire 10 offshore support vessels (OSVs), DNA reported. An internal study report said the company is mulling the acquisition of 10 anchor handling and tug supply (AHTS) vessels of various sizes. These would add to its offshore fleet of 10 OSVs, which it operates for Oil & Natural Gas Corporation (ONGC0). Source:  DNA

Oil & Natural Gas Corporation (ONGC) has awarded a project order with Larsen & Toubro Ltd (L&T) for the NQ re-construction (NQRC) Project in Mumbai High North fields, according to Domain-b. According to the report, this project is the largest brownfield project of its kind awarded in the offshore oil and gas sector in India. The NQ Complex, one of the oldest assets owned by ONGC, has been operational since 1985. The project comprises reconstruction of offshore facilities at the NQ Complex including the replacement of the existing booster compressor with a new process gas compressor module, revamp of produced water conditioning system, hot oil system, gas dehydration unit and other utilities.

Oil & Natural Gas Corporation Ltd (ONGC) and Hinduja Group signed a Memoranda of Understanding to form Joint Ventures to pursue global opportunities in Liquefied Natural Gas (LNG) and linked E&P business. The collaboration will leverage the E&P expertise of ONGC and the business-relationship advantage of the Hinduja Group in the hydrocarbon-rich Middle East, with business prospectivity benefits to both entities. The Memorandum of Understanding (MoU) between the company and Ashok Leyland Project Services (ALPS) provides for sourcing of Liquefied Natural Gas (LNG) at competitive terms, to be facilitated by ALPS. Pursuant to such sourcing…

The deadline for the demerger of Great Eastern Shipping Company (GE Shipping), has expired. Business Standard reports that it is not known whether the company would go for an extension of the deadline or call off the proposed demerger. The deadline stipulated under the demerger scheme approved by the Bombay High Court was at the close of business hours of August 2. GE Shipping executives were not available for comment on the issue. GE Shipping had last year approved a scheme of arrangement for demerger of the offshore service business into a separate company, Great Offshore Ltd. The demerger scheme, heard by the Bombay High Court on January 27 this year, was approved on February 3.

Oil & Natural Gas Corporation Ltd. (ONGC) and Shipping Corporation of Indian (SCI) have entered into a memorandum of understanding (MoU) for setting up a joint venture company called Offshore Marine Services Ltd (OMSL). The joint venture company will provide end-to-end solutions for vessel operations for ONGC and other oil and gas companies. It will also develop capabilities for acquisition, repair and maintenance of offshore floating units and undertake repair and construction on long-term arrangement with shipyard facilities on preferential terms and competitive basis. ONGC will give its vessels on bare boat charter agreement to the joint venture and will retain right of first refusal on deployment of these vessels as per requirement.