ONGC cancels and relaunches offshore rig tender

Summary

ONGC, which accounts for nearly 75% of India's crude oil output, cancels a significant offshore rig tender but quickly relaunches it. The company is investing heavily in exploration and development to sustain and increase production levels.

Recent Coverage

• ‘Unusually steep’ rise in dayrates caused offshore rigs tender to be axed, says ONGC

  Upstream Online • Apr 24

• ONGC cancels jack-up rig tender over cartelisation fears, flags 60% spike in bid prices

  Economic Times - India Time • Apr 22

• ONGC rig pricing veto may tighten fuel tap

  Economic Times - India Time • Apr 20

• Asian giant abruptly cancels keenly-watched offshore rig tender, relaunches within days

  Upstream Online • Apr 19