ONGC Cancels Bids for Daman Gas Project

16 May 2023 CW Team

State-run Oil and Natural Gas Corporation (ONGC) has abandoned the tenders for its Daman upside gas project off the west coast of India due to bids being too high, according to insiders.

ONGC was seeking to expand its gas production from its shallow-water fields and the Daman project would have almost doubled its daily gas production to 4-5 million standard cubic metres.

Bids for the tender were reportedly much higher than ONGC's internal estimates, so the tender has been cancelled. ONGC will break up the project into separate packages and re-tender.

Larsen & Toubro emerged as the lowest bidder in December 2021 with a quote of $663.77m to build the necessary infrastructure for the project. However, sources said the quote was 36.77% higher than ONGC's revised internal estimate of $485.03m.

While L&T offered a $1m discount, ONGC found the cost too high, indicating that it was willing to tolerate a maximum variation of 20% above the internal price estimate.

The Daman project involves constructing four wellhead platforms, seven infield pipelines, a gas compressor module, and the addition of low-pressure compression to the existing process platform. It also includes topsides modifications to the existing wellhead platforms.

The Daman project has been in the works for several years but has been delayed by unfavourable gas pricing. However, the rise in domestic gas prices has made the project commercially viable.

ONGC has been producing natural gas from Daman since 2016 and has invested roughly $1bn in offshore infrastructure at the field over the last five to six years.

The Daman project was also set to increase production from the B-12 and C-24 fields, and the cancellation of the tender will lead to further delays in the output increase that the government is pressuring ONGC to deliver.

Also Read
Mumbai to build Bowstring Bridge to connect coastal road
Railways approves ROB for Habibganj-AIIMS link

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..