New Delhi: ONGC announces Notice Inviting Offer (NIO) seeking partners for enhancement of production from its marginal nomination fields inline with its goal of maximizing recovery from its producing fields.
Under the NIO, 11 Onland contract areas comprising of 43 oil & gas fields with total in-place O+OEG volume of about 160 MMTOE are offered to interested companies through an International Competitive Bidding (ICB) Route. These contract areas are spread across the states of Gujarat, Assam, Tamil Nadu and Andhra Pradesh.
Eligible companies (Indian or Foreign), either alone or in consortium with other companies, may bid for one or more contract areas. The bidders are required to fulfil the requisite technical and financial criteria as per the NIO conditions and the bids would be evaluated on the basis of revenue sharing from the incremental production.
ONGC is inviting the bids through its e-bidding portal by 3rd December, 2021. A pre-bid conference will be held on 20th October 2021 (mode/ venue to be intimated later). Bidders interested in studying the data can purchase field information docket and data packages. Upon request, the interested companies shall be able to access the data viewing facility at IRS, Ahmedabad and visit the fields, if required.