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ONGC Scouts for Public Sector Yards to Build Four Platform Supply Vessels

State-owned Oil and Natural Gas Corporation Ltd (ONGC), India’s biggest oil and gas explorer, is scouting for public sector yards to build four so-called Platform Supply Vessels under a government-mandated plan to boost the domestic shipbuilding industry.

Platform Supply Vessels are specially designed ships which provide various services and support to offshore oil and gas exploration and production activities. These vessels play a critical role in the logistics and operations of offshore oil and gas platforms.

The cost of a new Platform Supply Vessel can vary significantly, ranging from $15 million to $53.6 million or more, depending on size, specifications, and the shipyard. A large PSV (4,500 dwt) could cost around $54 million, while a small to medium-sized one could come at a price tag of between $15 to $30 million, according to a ship broker.

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