(PTI)
New York-listed contractor Schlumberger – the sole bidder in state-owned ONGC’s tender for raising oil production from aging fields – has sought several deviations from the bidding norms, including projection of a 26-27 per cent decline in output in next few years. India’s leading national oil company launched its initial tender for Production Enhancement Contracts (PEC) in April 2018 for raising output beyond the business as usual (BAU) scenario from two aging fields. Schlumberger submitted the only application for Geleki, while ONGC received no bids for Kalol oilfield in Gujarat. Sources privy to the development said Schlumberger is projecting a 26-27 per cent decline in base production in next few years and has sought several deviations in tender norms for infusing technology to raise output over this base.
