State-owned ONGC on Monday said it would re-invite tenders for charter hire of a multipurpose support vessel (MSV) within a month after its specifications are reviewed by a panel of marine experts.
An ONGC spokesperson told FE that representations were received from two members of Parliament requesting a review of specifications. ?On review of these representations, there appeared a scope and need to review the specification so as to make them broad-based to facilitate better competition. Accordingly, a committee of marine experts is constituted to review/revise the specifications and thereafter tender would be re-invited shortly (within a month),? the spokesperson said.
ONGC is also in the process of inviting tender for construction of one highly sophisticated MSV not only to replace the Sanudra Suraksha that collided with an offshore platform in 2005, but also for future requirement in the East cost. ONGC said that after the 2005 incident, the company has taken a host of initiatives regarding the safety of offshore installations. ?ONGC management is very pro-active in taking all safety measures for protecting its most valuable assets,? the person said.
The exploration major now has a fleet of 52 sophisticated vessels. Forty of them are offshore supply vessels, platform supply vessels and anchor handling tug supply vessels that can maintain their position in rough weather (DP1). Half of these have fire fighting capabilities. These are strategically deployed to supplement the fleet of four MSVs and two fire fighting support vessels and give sufficient cover to the entire Western assets.
This year, ONGC?s asset valuation increased by about 5% to $26 billion but the premium has come down to $27.5 million from $34.1 million last year. The insurance premium depends on a host of parameters, the most important of them being the health of the assets and the status of its safety. Insurance surveyors last fiscal observed that ONGC?s offshore assets are as well maintained as European installations, the ONGC spokesperson said.