LARGE Wins Seismic Contract from ONGC

LARGE has done it again by beating four dominant western competitors to win ONGC's 6,700-line km 2D seismic survey contract for the current season. On July 14th ONGC opened price bids for the 2D survey in Mumbai. Once the bids were opened, LARGE again emerged victorious in winning ONGC's seismic contract by quoting eye-catching low rates.

LARGE is L1 with a quote of $2.68m - less than half of L2 bidder Compagnie Generale de Geophysique of France, which bid $4.04m. Viking (represented by Veritas) stood L3 with a quote of $4.12m, Multiwave Geophysical was L4 with a price bid of $4.64m and finally Fugro Geoteam was L5 with the most expensive bid of $4.92m.

LARGE did not bid for ONGC's 12, 946-sq km 3D tender for which CGG emerged L1 on July1st with a bid amount of $103m. Last year, LARGE won the contract to shoot 11,425-line km 2D seismic across the east and west coasts of India with a price bid of $4.08m.

ONGC is expected to award the contracts to both CGG and LARGE after getting formal approval from senior management. "ONGC's executive purchase committee is yet to stamp its approval on the Letters of Intent to the two companies." A source close to LARGE tells PETROWATCH that ONGC is likely to issue the LOIs towards the end of August. "This will give us two months to mobilize our vessels." LARGE is likely to deploy two multi-streamer 2D vessels: M/V C-Explorer and M/V Mezen. C-Explorer is on an assignment in Indonesia and Mezen is being overhauled in Singapore.

LARGE says both Mezen and C-Explorer offer advanced technologies in geophysical and navigation data acquisition. Designed to acquire 2D seismic, C-Explorer is also equipped to shoot small to medium sized 3D seismic in deeper waters. Both vessels can tow super-long digital streamers and deploy carefully tuned 'Bolt Long Life' air gun arrays.

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