CGG Apparent Low Bidder for ONGC Seismic Tender

Compagnie Generale de Geophysique has emerged as the apparent bidder for ONGC's seismic tender to shoot a 12,946-sq km 3D survey across the west and east coasts of India. The financial bids for the 3D tender, which closed on July 1st, were opened at ONGC's western offshore headquaters in Mumbai on July 7th.

Of the nine companies that attended the June 14th pre-bid only three were shortlisted by ONGC: CGG, Viking (represented by Veritas) and WesternGeco. GCC came in with the lowest bid followed by Viking and then WesternGeco. PGS opted out of the bid.

PETROWATCH says that Indian waters might not witness the same intense seismic activity as it has till now. "International seismic activity went through a very bad patch last season," an industry source tells PETROWATCH. "This was why seismic companies were more than happy to take up work in the Indian subcontinent and deploy their idle ships." Industry sources tell this report that ONGC and Reliance have benefited from very competitive rates, with companies often ready to quote below cost.

Both CGG and PGS have technically finished their respective 3D survey contracts won last year from ONGC and have moved their vessels to other locations.

On July 1st ONGC also opened technical bids to shoot a 6, 700-line km 2D survey across the west and east coasts of India. The companies that qualified are: CGG, Viking (Veritas), Multiwave Geophysical, Fugro Geoteam and LARGE. ONGC will open the price bids for the 2D tender on July 14th. PetroWatch - "Market Intelligence from the Oil, Gas & Power sector in India"