A total of 13 private companies, including Oilmax Energy and Deep Industries, have placed bids for the operatorship of ONGC’s 64 small producing fields, according to people with knowledge of the matter. ONGC had launched the auction in June and twice extended the deadline to January 17 for its 64 small fields that were divided into 17 contract areas for bidding. Most bidders are not established names in the oil and gas industry.
They include Oilmax Energy, Deep Industries, Dravida Petroleum DMCC, Orissa Stevedores, Syndicate Trading, Udayan Oil Solutions, Duganta Oil and Natural Gas, Shivam Crusher, LNG Bharat, Hermes Technologies, Priserve Infrastructure, and Advent Oilfield, according to people with knowledge of the matter. More details couldn’t be ascertained. ONGC will now evaluate the bids over the next few weeks and pick winners.
Initially, international oilfield services providers such as Haliburton, Schlumberger and Baker Hughes and some other oil firms had also shown interest in ONGC’s fields but their interest cooled off subsequently. Several potential bidders had demanded changes in the tender conditions, many of which were accepted by ONGC to make the auction attractive. Bid submission deadlines were also extended for increased participation.
