ONGC Invites Bids for Offshore Vessel Operations

03 Dec 2024 CW Team

State-owned Oil and Natural Gas Corporation Ltd (ONGC) has issued tenders inviting private entities to handle the operation and maintenance (O&M) of its offshore vessels, Samudra Sevak and Samudra Prabha.

Interested bidders can submit proposals for either one or both vessels for a one-year contract, with a submission deadline of December 16. The selected operator will need to mobilise marine and diving crews in compliance with the contract's scope and conditions. Necessary clearances from Port, Customs, DG Shipping, and the Ministry of Home Affairs must be secured, and operations must commence within 30 days of the notification of award (NOA) or the expiration of the current O&M contract, whichever comes later.

The current contracts for Samudra Sevak and Samudra Prabha expire on March 20 and April 29, 2025, respectively. Samudra Sevak, a multipurpose supply vessel, and Samudra Prabha, a diving support vessel, play crucial roles in ONGC's offshore oil and gas exploration activities.

As per the Directorate General of Shipping (DG Shipping) norms introduced in February 2023, these vessels can operate until February 24, 2026. However, if an extension is not granted under these regulations, ONGC reserves the right to terminate the contract by February 24, 2026, without incurring additional costs or obligations, as stated in the tender documents.

This move reflects ONGC’s efforts to maintain robust offshore operations while adhering to regulatory requirements. (ET)

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..