The Oil & Natural Gas Corporation (ONGC)’s latest tender, drawn out on the Quality and Cost based selection (QCBS) scheme, has attracted old jack-up rigs averaging 41 years. The earlier tender from the country’s largest oil and gas explorer did not have the QCBS scheme and the age of jack-up rigs averaged 36 years.
Indicating ONGC’s skew for lower-cost rigs over the better-quality and newer generation of jack-ups. ONGC introduced the QCBS criterion which gives 25 per cent weightage to technical and 75 per cent to commercial aspects. But, in effect, the ...
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