Bid & Tender


OIL Signs Rs 12.87bn Contract with UK-based Firm for Oil Exploration Off Kollam Coast

Oil India Limited has signed a contract for oil exploration off the coast of Kollam. The expedition will begin in mid-2024. A deal worth 154 million dollars (Rs 12.87 billion) has been signed with the company based in the UK. The expedition will be carried out on three Indian coasts including Kollam. In Kollam, the expedition will be done 48km off the coast.


Apart from Kollam, the expedition will be conducted in Amalapuram in Andhra Pradesh and on the Kerala-Konkan region. In both cases, the initial steps were taken by the Dolphin Drilling AS company. Huge wells at a depth of 6000 metres from sea level will be built for exploration. In 2020, Oil India conducted a preliminary exploration centred on the Kollam coast. Based on this, a detailed investigation is now being conducted. The information is that the exploration anticipates gas and fuel possibilities.


A huge yard, plant, refuelling facility for exploration vessels, temporary office space, etc will be set up at the Kollam port.


Related News