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Home > ONGC hires drilling rig for Rs 2.39 cr/day
NEW DELHI, JUNE 18: State-owned Oil and Natural Gas Corp has signed a contract to hire a long-idled ultra- deepwater drillship of US-based Transocean for $412,000 (about Rs 2.39 crore) per day. ONGC hired ‘GSF Explorer’ drilling rig for one year beginning July at a dayrate of USD 412,000, the oil rig contractor said in its latest fleet update. GSF Explorer is capable of drilling up to 30,000 feet in water depths of up to 7,800 feet, Transocean said. According to Transocean, GSF Explorer was built in 1972 and upgraded in 1998. ONGC hired drillship GSF Explorer after recently cancelling a deal with a rival driller. A contract to hire the rig was signed on May 24 ending months of re-tendering and negotiations between ONGC and Transocean. Sources said Transocean had emerged the sole bidder in an initial tender floated by ONGC for hiring an ultra-deepwater rig last year. It offered a two-year contract at $601,000 per day, which ONGC felt was too high. ONGC re-floated the tender and ultimately selected Russian player Arktikmorneftegazrazvedka, the lowest bidder, which offered the drillship Deep Venture for two years at $399,000 per day. But the deal fell through because the Russian player did not submit performance bank guarantee and did not mobilise the rig on time. The Russian firm said it would make available the rig not before October as against ONGC’s target of April-end.