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ONGC to spend on drill ships, rigs as costs drop
Published Mon, Jun 20, 2016 · 09:50 PM
Mumbai
OIL and Natural Gas Corp (ONGC), India's biggest explorer, is preparing to spend on its biggest ever crude binge as sub-US$50 oil halves the cost of rigs and services.
State-run ONGC is contracting as many as five deepwater drill ships and dozens of jack-up rigs as it launches a US$5 billion development programme in the Krishna-Godavari Basin off the east coast of India, said chairman Dinesh Kumar Sarraf. The co…
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