India’s ONGC Plans Biggest Crude Exploration Binge

By Saket Sundria, Debjit Chakraborty and Dhwani Pandya (Bloomberg) -- Oil and Natural Gas Corp., India’s biggest explorer, is preparing to spend on its biggest ever crude binge as sub-$50 oil halves the cost of rigs and services. State-run ONGC is contracting as many as five deepwater drill ships and dozens of jack-up rigs as it launches a $5-billion development program … [Read more...]

ONGC Awards Swiber Major Contract to Build 8 New Offshore Gas Platforms

Singapore-based offshore energy construction contractor Swiber Holdings Ltd reported today their second largest contract ever from India's Oil and Natural Gas Corporation Ltd. (ONGC). The $310 million contract involves the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) of 8 new platforms and associated pipelines. Although not specifically … [Read more...]

ONGC and Oil India to Buy $2.5 Billion Stake in Mozambique LNG

June 25 (Bloomberg) -- Oil & Natural Gas Corp. and Oil India Ltd., India’s biggest state-run explorers, will pay $2.5 billion to buy a stake in a Mozambique natural gas field from Videocon Industries Ltd. The two Indian companies will buy Videocon Mozambique Rovuma 1 Ltd., which owns 10 percent of the Rovuma-1 field in the waters off the African nation, Oil India … [Read more...]

India’s ONGC Said to Hold Top Bid for $6 Billion Mozambique Gas Stake

April 30 (Bloomberg) -- State-backed Oil & Natural Gas Corp. and Oil India Ltd. are the leading joint bidders for the stake in a Mozambique gas field being sold by Anadarko Petroleum Corp. and Videocon Industries Ltd., three people with knowledge of the discussions said. A deal may value the 20 percent holding in the Rovuma-1 offshore block at $5 billion to $6 billion, … [Read more...]

Bumi Armanda Wins $740 Million FPSO Charter Contract from ONGC

Malaysia-based international offshore oil and gas services provider, Bumi Armada Berhad announced today that its jointly controlled entity, SP Armada Oil Exploration Pte Ltd, has been awarded a $740 million FPSO charter contract from India's Oil and Natural Gas Corporation Limited (ONGC) for charter of a  for the Cluster-7 field offshore India. The contract includes an … [Read more...]