Sevan Marine bags contract from ONGC
Norwegian firm Sevan Marine ASA on Friday said it has bagged a contract from state-run Oil and Natural Gas Company for deepwater drilling rigs.
By PTI |
NEW DELHI: Norwegian firm Sevan Marine ASA on Friday said it has bagged a contract from state-run Oil and Natural Gas Company for deepwater drilling rigs.
In a filing to the Oslo stock exchange, Sevan said, "Subject to the signing of a 'Letter of Intent' between the parties shortly, the drilling contract will have a fixed term of three years."
The company expects to generate a revenue of about $569 million , including mobilisation, over the contract period, the filing added.
Last month Sevan Marine and ONGC carried out a detailed technical clarification process in order to qualify the Sevan Drilling Rig for operations offshore India.
"After Technical Qualification, the commercial bids were opened on Thursday, in which Sevan emerged as the lowest bidder," the filing said.
The rig provided by the firm would be based on its proprietary Sevan 650 design. The rig will have a capacity to drill in water depths down to 10,000 ft.
The Norwegian company partners Jindal Drilling & Industries in India.
In a filing to the Oslo stock exchange, Sevan said, "Subject to the signing of a 'Letter of Intent' between the parties shortly, the drilling contract will have a fixed term of three years."
The company expects to generate a revenue of about $569 million , including mobilisation, over the contract period, the filing added.
Last month Sevan Marine and ONGC carried out a detailed technical clarification process in order to qualify the Sevan Drilling Rig for operations offshore India.
"After Technical Qualification, the commercial bids were opened on Thursday, in which Sevan emerged as the lowest bidder," the filing said.
The rig provided by the firm would be based on its proprietary Sevan 650 design. The rig will have a capacity to drill in water depths down to 10,000 ft.
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The Norwegian company partners Jindal Drilling & Industries in India.
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