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Forum Name :
Should ONGC be allowed to change its work programme in 5 deepwater blocks?
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Should ONGC be allowed to change its work programme in 5 deepwater blocks?
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06 Sep 2006 08:11 AM
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The exploration industry in India is likely to watch with interest how the petroleum ministry deals with the application put in by ONGC for approval of an alternate work programme for five NELP-II deepwater blocks (GS-DWN-2000/1, GS-DWN-2000/2, MB-DWN-2000/1, MB-DWN-2000/2 and KK-DWN-2000/4). The minimum work programme for these blocks entails drilling of exploratory wells but ONGC has now decided to shelve drilling plans in favour of more surveys. While agreeing to abide by the conditionalities imposed by the new extension policy formulated by the DGH, ONGC has also sought time extensions to complete the MWPs for these blocks but with a time lapse in between. ONGC's proposals are significant aberrations from the provisions of the PSC. The DGH does not have the power to sanction an alternate work programme but the government can make an exception. Critics claim that if a revised work programme is approved for ONGC, it would defeat the tenets of competitive bidding under which the blocks were awarded. Embedded in the bidding process is the principle that the parameters under which a block is awarded should not be tinkered with as that would provide the winner with an unfair advantage not available to the next best bidder. It can also set a dangerous precedent -- if ONGC can get away with it, so can Reliance and others. On the other hand, there is a point of view that sufficient leeway must be given to an operator to complete the exploration process, particular in blocks where the prospectively is in doubt. But then again, should ONGC be given the privilege of a break in the MWP period when the delay is not on account of extenuating external circumstances but of its own doing ? Send in your views on the subject to us. (Click on the Bulletin Board and type in your opinion).
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02 Mar 2010 07:49 AM
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kamastolo
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27 Feb 2010 01:15 PM
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Hi,
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Thanks
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25 Feb 2010 01:05 AM
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