ONGC has largest fleet of drilling rigs

NEW DELHI: ONGC and Reliance Industries (RIL) are in talks to share exploration infrastructure in lucrative deep sea basins. The shortage of drilling rigs has forced the oil companies to consider using rigs on a time-sharing basis.

Besides Deepwater Frontier, RIL operates two deepwater rigs: Actinia managed by Transocean and Deepdriller-1 by Premium Drilling. RIL is in the process of hiring more drills to explore the Krishna-Godavari (KG) and Mahanadi Basins.

It has also shortlisted bidders for seven lucrative blocks under the sixth round of the New Exploration & Licensing Policy (NELP-VI) and is expected to intensify its E&P activities in the near future.

With 29 rigs currently under operation, ONGC has the largest fleet. It owns 10 rigs — Sagar Bhushan, Sagar Gaurav, Sagar Jyoti, Sagar Kiran, Sagar Pragati, Sagar Ratna, Sagar Samrat, Sagar Shakti, Sagar Uday and Sagar Vijay. All are engaged in drilling activities.

ONGC’s rig contractors include Aban Loyd, Great Eastern Shipping, Nabors, Noble Drilling and Pride International. Only two of ONGC’s 29 rigs are free after completion of work — Sundowner SD7 and Sundowner VI (platform rigs) managed by Nabors. Noble Ed Holt (in the Persian Gulf), with a capacity to drill up to 25,000 feet, is being modified.