(PTI)
State-owned Oil and Natural Gas Corp (ONGC) will hire international oil service companies for the first time to raise output from mature oilfields. India’s top oil and gas producer has shortlisted Schlumberger, Halliburton and GE subsidiary Baker Hughes for raising output from Kalol field in Gujarat and Geleki field in Assam, according to tender document floated by the company.
Other oilfield service providers meeting pre-qualification criteria can also bid for the job by May 25, it said.
The service providers will be paid a fee for raising output beyond an agreed baseline production. “To achieve the objective of production enhancement of oil and gas from mature fields, ONGC invites global oil and gas service providers having firm commitment to invest and processing capabilities to bid,” the document said.
“The service provider will be required to invest in capital expenditure and operating expenditure to increase production from the existing ‘baseline’ production.” ONGC is looking to raise domestic output quickly to meet Prime Minister Narendra Modi’s target of cutting import dependence by 10 per cent by 2022. India currently imports over 80 per cent of its oil needs.
