Indian state-owned Oil and Natural Gas Corporation (ONGC) has entered into a strategic alliance with Weatherford, an oilfield services provider, under which both the parties will jointly work in the areas like near-term production enhancement services, optimization of reservoirs and production systems through integrated project management.
Under the strategic alliance, both the parties would also jointly work in recovery and production optimization, reservoir management, marginal field development, logging services, data and information management and deep-water exploration and exploitation areas.
RS Sharma, chairman and managing director of the Oil and Natural Gas Corporation (ONGC), expressed his confidence in Weatherford and said that this collaboration should improve overall well economics for ONGC.
Earlier in the second week of February 2009, ONGC Petro additions Limited (OPaL) signed a contract for Dual Feed Cracker Unit of Petro-chemical plant being set up at Dahej, Gujarat with consortium of Linde AG, Germany and Samsung Engg South Korea. The contract valued at Rs 6800 Crore is the largest single Lump-Sum Turnkey (LSTK) contract so far executed by Linde and Samsung signally or as a consortium in India.
According to the company, the Dahej Petro-chemical plant being built at a total estimated cost Rs.12,440 Crore will be the largest Petro-Chemical Cracker Unit in India. The plant is to be completed by 2012.
