ONGC Plans to Build Offshore Drilling Rigs

02 Dec 2024 CW Team

Oil and Natural Gas Corp (ONGC) is in discussions with domestic shipyards to construct two offshore jack-up drilling rigs, valued at approximately $500-550 million, as part of its strategic move to replace aging equipment. ONGC’s board recently approved the plan to manufacture these rigs, aimed at modernizing the company’s offshore drilling capabilities. These new rigs will replace several of ONGC’s existing rigs, some of which have been operational for over four decades and are due for retirement in the coming years.

The initiative not only strengthens ONGC’s operational capacity but also presents an opportunity for Indian shipyards to expand their expertise in building advanced offshore rigs. As noted by Om Prakash Singh, director of technology & field services at ONGC, this move will help develop local shipbuilding capabilities for offshore infrastructure. Offshore rigs have not been constructed in India since 1990, and the new project is expected to reintroduce this capability to the country. Before 1990, ONGC had two jack-up rigs and one floater built at Indian shipyards for its operations.

Currently, ONGC operates 113 drilling rigs, including 38 offshore rigs, with plans to expand the fleet further. While the company owns approximately one-fifth of the rigs used for offshore operations, the majority are chartered. For onshore operations, ONGC owns most of its rigs, with only about one-fifth chartered. Singh also highlighted that company-owned rigs play a critical role in training ONGC executives, who use their skills to manage chartered rigs. The construction of a jack-up rig typically takes around 3 to 3.5 years.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..