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ONGC closing up on Vashishta FID

US-based McDermott pips two rivals with lowest bid in international tender to find contractors to develop oil and gas fields off eastern India

Published Tue, Nov 24, 2015 · 09:50 PM

Swiber

Singapore

INDIA'S largest oil-and-gas exploration and production company, Oil & Natural Gas Corporation (ONGC), is moving towards making a final investment decision (FID) on the delayed development of the Vashishta and S-1 fields, after receiving a winning bid from US-based international contracting group.

The bid by McDermott came within a revised project budget, and beat competing commercial bids fr…

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