ONGC awards $1.7-bln India deepwater contract

NEW DELHI, October 4, 2018 – A consortium of BHGE, McDermott and Larsen & Toubro has received a USD 1.7-bilion contract for subsea works at the deepwater KG-DWN-98/2 field offshore India, operator ONGC said on Wednesday.

ONGC expects first gas from the field in December 2019 and first oil by March 2021, the company statement added.

“Today’s award represents an important milestone in support of ONGC and India’s commitment to help reach its energy potential,” said Neil Saunders, BHGE’s president and CEO for oilfield equipment, in a separate statement confirming the award. “As the industry moves toward greater collaboration across the value chain, we believe our technology and our unique commercial models are well positioned to meet demand for future subsea projects.”

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