India’s leading oil and gas producer, Oil and Natural Gas Corporation (ONGC), has awarded multi-year drilling contracts to Aban Offshore and Jindal Drilling & Industries for the deployment of two jack-up rigs: Aban VIII and Jindal Explorer. These contracts highlight ONGC’s commitment to boosting offshore exploration and production activities.
Aban VIII to Begin Operations by Q2 2022
Aban Offshore secured a three-year contract from ONGC for the deployment of its Aban VIII jack-up rig. The rig is expected to begin operations in the second quarter of 2022, supporting ONGC’s ongoing offshore drilling programs.
While specific financial terms of the Aban VIII deal weren’t disclosed, the long-term nature of the contract indicates a significant commitment and reflects ONGC’s confidence in Aban Offshore’s capabilities.
Jindal Explorer Secures Competitive Day Rate
ONGC has also issued a Notification of Award to Jindal Drilling & Industries for the deployment of the Jindal Explorer jack-up rig. The contract, also spanning three years, comes with an Effective Day Rate (EDR) of $35,138.71.
The Jindal Explorer is a high-specification rig based on the Keppel KFELS B design, capable of operating in water depths up to 350 feet and drilling to a depth of 30,000 feet — making it well-suited for ONGC’s offshore field requirements.
Boosting India’s Offshore Drilling Capacity
These contracts are a part of ONGC’s broader strategy to ramp up offshore drilling operations and secure long-term rig availability. With energy demand continuing to grow, long-term rig partnerships are crucial to maintaining a steady exploration and production pace.
Both Aban Offshore and Jindal Drilling have longstanding relationships with ONGC and these new awards further solidify their positions as reliable rig service providers in India’s offshore energy sector.
