New Delhi: Reliance Industries Ltd and Oil and Natural Gas Corp. Ltd may face an imminent shut down of offshore oil and gas operations after the Shipping Ministry issued new norms for vessels operating in Indian waters.
The Directorate General of Shipping had in May banned operations of all vessels that are more than 25 years old.
“Offshore oil and gas operations will collapse if these norms are implemented,” ONGC Chairman R S Sharma said here on 15 July.
ONGC has more than 100 vessels operating off the East and West coast providing supporting services to oil and gas production.
A Reliance Industries executive said the company faced a similar fate for its 40-plus vessels working on bringing the gas field in Krishna Godavari basin to production.
Sharma said world over safety certification is the criteria for operations of vessels, not vintage.
“Our vessels have all necessary safety certification from international bodies and there is no compromise on the safety aspect,” he said.