ONGC seeks rig from global oil firms for KG block work (The Ecoomic Times 14th Dec 2007)
India’s biggest oil explorer Oil and Natural Gas Corporation (ONGC) is believed to have approached global oil firms seeking an ultra deepwater rig for drilling well UD-1 in the Krishna Godavari (KG) basin block KG-DWN/98-2. The global major is believed to have even offered a stake in the block, where it claims to have discovered huge natural gas reserves, in return for the rig, people close to development told ET. ONGC is in talks with global oil firms StatOil, Norway’s Norsk Hydro among others to secure an ultra deepwater rig for drilling in well UD-1. It has so far been unable to secure an ultra deepwater rig in the international market even after willing to pay higher prices. The logic is simple: ONGC needs to drill more in that well to establish its claims of gas discovery.
Govt offers 57 oil, gas blocks in seventh round (The Hindu Business Line 14th Dec 2007)
The seventh auction round of oil and gas acreages launched by the Petroleum Ministry on Thursday aim to attract small investors, encourage foreign majors, as well as small and medium exploration and production companies.
Based on the experiences gained in the past auction rounds, which saw ‘extreme financial package’ being offered by certain companies, the fiscal package for the latest round has been modified to ensure the Government’s share of profit petroleum remains unaffected.Announcing the launch of New Exploration Licensing Round-VII (NELP-VII), the Petroleum Minister, Mr Murli Deora, said, “The Government is offering highest number of exploration blocks ever – 57. The offered blocks include 19 deepwater blocks, nine shallow water blocks and 29 onland blocks. The bids will close on April 11.”
Jyoti Structures on Tuesday said it has bagged two orders worth Rs 253 crore from Uganda Electricity Transmission Company Ltd and Eskom Enterprises (Pty) Ltd for construction of transmission lines. The company has bagged Rs 160-crore order from Uganda Electricity Transmission Company Ltd for construction of transmission lines and sub-stations. Besides, the company's joint venture company Jyoti Structures Africa (Pty) Ltd has bagged a contract for Eskom Enterprises (Pty) Ltd, the electricity utility of South Africa for construction of transmission line. The scope of the order from Uganda Electricity Transmission Company includes supply and erection of Bujagali Interconnection Project, the manufacturer of transmission line towers informed the Bombay Stock Exchange. The contract valued at around $39.64 million (Rs 160 crore) is to be executed in 24 months, the company said, adding the company would construct 220 kV and 132 kV transmission lines and substations.
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