Schlumberger is sole bidder for enhancing production from ONGC’s ageing fields

American oilfield-service company Schlumberger Ltd’s lone bid for boosting production from Oil and Natural Gas Corporation’s (ONGC’s) older oil fields will have to meet certain parameters before getting a final nod.

“Schlumberger is the lone bidder for the Geleki field (Assam). This is not the first time we will be working with a single bidder…The award of the contract will be subject to them meeting certain parameters,” an official aware of the bid told BusinessLine .

“The bidding out of Production Enhancement Contracts (PECs) will vary from field-to-field and participants will have to meet the requirements specified before final award,” the official added.