Mumbai (Maharashtra) [India], Oil and Natural Gas Corporation (ONGC) announced the engagement of a globally proven technical service provider to enhance production from Mumbai High, the company said in a social media post on Friday.
ONGC said it "is keen to engage an internationally proven 'technical service provider' to enhance production from its maturing Mumbai High field on the Arabian Sea."
The Mumbai High field, which began production in 1976, is now at a mature stage, having produced oil and gas for 48 years. Over the years, ONGC has implemented various schemes to maintain and increase production levels.
However, the Company believes that further potential can be unlocked by implementing best-in-class reservoir management technologies and adopting globally recognized operational and management practices.To identify a suitable service provider, ONGC has launched an International Competitive Bidding (ICB) process, which was officially launched on June 1, 2024. Interested parties have time till 15 September 2024 to submit their bids.
The criteria for participation is stringent, with a focus on major international oil and gas companies with annual revenues in excess of USD 75 billion. This ensures that only the most capable and experienced firms are considered for this important role.
The company highlighted that the selected technical service provider will be contracted for a period of ten years, with an option to extend the contract for an additional five years.The scope of work for the provider is broad, including an in-depth review of field performance and identification of improvements in wells, reservoir and facilities management (WRFM), including water injection systems.
The provider will also suggest and help in implementing suitable technical interventions aimed at increasing production efficiency.
Additionally, the contract also includes the responsibility to develop detailed action plans for the development of the field as well as conduct integrated reservoir and front end engineering design (FEED) studies. This holistic approach ensures that all aspects of field operations and management are optimized for maximum productivity.
The move is part of ONGC's broader strategy to maintain its leadership in the Indian oil and gas sector by continuously enhancing the performance and efficiency of its key assets.
ONGC said it "is keen to engage an internationally proven 'technical service provider' to enhance production from its maturing Mumbai High field on the Arabian Sea."
The Mumbai High field, which began production in 1976, is now at a mature stage, having produced oil and gas for 48 years. Over the years, ONGC has implemented various schemes to maintain and increase production levels.
However, the Company believes that further potential can be unlocked by implementing best-in-class reservoir management technologies and adopting globally recognized operational and management practices.To identify a suitable service provider, ONGC has launched an International Competitive Bidding (ICB) process, which was officially launched on June 1, 2024. Interested parties have time till 15 September 2024 to submit their bids.
The criteria for participation is stringent, with a focus on major international oil and gas companies with annual revenues in excess of USD 75 billion. This ensures that only the most capable and experienced firms are considered for this important role.
The company highlighted that the selected technical service provider will be contracted for a period of ten years, with an option to extend the contract for an additional five years.The scope of work for the provider is broad, including an in-depth review of field performance and identification of improvements in wells, reservoir and facilities management (WRFM), including water injection systems.
The provider will also suggest and help in implementing suitable technical interventions aimed at increasing production efficiency.
Additionally, the contract also includes the responsibility to develop detailed action plans for the development of the field as well as conduct integrated reservoir and front end engineering design (FEED) studies. This holistic approach ensures that all aspects of field operations and management are optimized for maximum productivity.
The move is part of ONGC's broader strategy to maintain its leadership in the Indian oil and gas sector by continuously enhancing the performance and efficiency of its key assets.
