FE
State-owned ONGC is looking for partnership for the development of its explored rigs, the company’s Director Technical & Field Services, Om Prakash Singh said.
“Our major experience is on drilling part. We are very comfortable on drilling. We are looking for a reputed partner for technology sharing,” Singh said on the sidelines of the India Energy Week.
ONGC is engaging with numerous technology partners, including Schlumberger and Halliburton, to explore a tie up primarily focusing on offshore rig development owing to the escalating costs.
“In exploration business and production business, now our cost is increasing,” Singh said, addresing the need to improve efficiency to offset the high costs. He added that ONGC aims to increase the operational efficiency by 20% and reduce its costs by the same percentage through these partnerships.
