GE Oil & Gas signs agreement with ONGC
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Mumbai: GE Oil & Gas, provider of technology equipment and services to the oil and gas sector, on Tuesday said it will supply an estimated 55 subsea wellheads to state-run energy explorer Oil and Natural Gas Corp. Ltd (ONGC) over three years for the latter's offshore drilling in shallow to medium waters.
The first wellhead under the contract will be supplied in fourth quarter of 2016, with GE manufacturing part of the project in India for the first time, in Kakinada, with engineering and project management support from regional teams in Singapore.
Ashish Bhandari, chief executive officer, South Asia at GE Oil & Gas, said in a statement, “With India’s new energy policy and gas pricing policy in place, we are seeing an uptick in ONGC’s exploration and development activity. This latest award will enable GE to support ONGC as its technical partner, collaborating to improve the region’s energy supply capabilities through the discovery of new fields offshore.”
This deal follows a contract awarded to GE Oil & Gas in 2015, for the supply of subsea production systems to ONGC’s Vashishta (VA) and S-1 fields, located off India’s Amalapuram coast in the KG Basin, ONGC’s first foray into deep water development in India.