Indian Government-owned Oil and Natural Gas Corporation (ONGC) has entered into a two-year binding letter of award (LoA) with Transocean to deploy the latter’s Dhirubhai Deepwater KG2 drill-ship in India.
The drilling campaign is scheduled to begin in the first quarter of 2027 (Q1 2027), with an anticipated contract value of around $300m. This amount includes fees for additional services and mobilisation.
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The contract also offers two years of priced options, which, if fully utilised, would extend the drill-ship’s operations in India until early 2031.
The Dhirubhai Deepwater KG2 is a sixth-generation dynamic positioning drill-ship designed by Samsung, featuring a double hull.
Constructed by Samsung Heavy Industries in Geoje, South Korea, it entered service in 2010.
The vessel is classified under ABS+A1(E) and other certifications, and sails under the Marshall Islands flag.
Measuring 748ft in length, 137ft in width and 62 feet in depth, it can accommodate up to 180 personnel.
The drill-ship has a displacement of 105,822 short tonnes while operating and can achieve a transit speed of up to 12 knots.
It is capable of drilling in water depths of up to 12,000ft and reaching a maximum drilling depth of 35,000ft.
Earlier this week, ONGC received a US licence to resume full operations in Venezuela. The company, through its overseas arm ONGC Videsh, holds assets in Venezuela’s San Cristobal and Carabobo-1 fields.
The US Government granted the necessary authorisation in July 2026, allowing ONGC to proceed with its oil and gas operations in Venezuela.
Framework agreements for future actions are currently under discussion with relevant stakeholders.
In another development this week, ONGC launched gas evacuation facilities at Khoraghat GGS-1 in the Golaghat district of Assam, India.
This facility allows for the processing and evacuation of surplus associated natural gas from the Upper Assam Shelf via the North East Gas Grid, which is being developed by Indradhanush Gas Grid.
The new infrastructure will enable the utilisation of approximately 100,000 standard cubic metres of gas per day from ONGC’s Jorhat asset.
Additionally, ONGC is working on establishing hook-up facilities at Jantapathar and Kasomarigaon to connect more producing fields from the Jorhat Asset to the North East Gas Grid.
In June 2026, ONGC awarded a technical services contract to bp to help boost production from its fields in the Western Offshore Basin.
