ONGC Receives Positive Response on Seismic Tender

ONGC has received over 15 responses to its tender for seismic data collection on the east and west coasts of India. This is the largest tender by ONGC for collecting 2D and 3D seismic data to date.

A senior company official said that the seismic data survey would be carried out along six thousand kilometers in the offshore region. He added, "We feel that the area under survey is very promising and ONGC is confident of hitting a substantial reserve of oil and gas reserve."

While ONGC has been carrying out seismic data for the offshore region for the last 20 years, this time the company decided to map the entire east and west coast fields since there are a large number of smaller fields which could contain potential oil and gas reserves.

The company recently held the pre-bid conference where the potential bidders sorted out issues relating to the tender. The company hopes to finish evaluating the bids and issue work order for the data collection by this November. The data collection is expected to be completed by June next year, following which the company would begin exploration activities.