| Work Detail |
India’s Oil and Natural Gas Corporation (ONGC) is talking to domestic shipyards regarding the construction of two offshore jackup drilling rigs worth about $500-550m.
This comes following the company’s board of directors approving the plan to build the rigs. This move should see some four-decades-old ONGC rigs replaced. There are already plans in place to retire those rigs in the coming years.
These could be the first offshore rigs to be built in the country since 1990. Before that, Indian shipyards built two jackups and one floater – all three for ONGC.
ONGC currently has 113 drilling rigs, 38 of which are offshore rigs with more being added. It also has about 90 workover rigs.
The company owns about a fifth of its offshore drilling rigs while the rest is on charter. As for onshore rigs, it’s the opposite with only a fifth of the rigs being on hire. |
