ONGC has selected Cochin Shipyard Ltd to build for it a ship to collect seismic data in offshore blocks. The public sector oil giant’s Director of Exploration, N.K. Verma, said ONGC had decided on Cochin Shipyard for the contract, though it is yet to be signed. The parties areworking on some “finer details”, he said.
The ship will cost “well upwards of $150 million” according to Cochin Shipyard officials. They could not put a definite figure because the cost would depend on the choice of equipment, which is yet to be made.
The vessel is slated to enter ONGC service in a few years — 34 months from the date of signing of the contract. Apart from giving ONGC the security of having its own seismic vessel, the move will help the company save on the costs of hiring similar vessels. .
Others in the fray
For about a decade, ONGC has been planning to acquire its own seismic ship. It toyed with the idea of giving the contract to several shipyards, including one in Russia and another in Singapore, apart from Bharti Shipyard Ltd.
A seismic vessel carries equipment that sends down sound waves to the sea-bed and capture their reflections. Cables (called ‘streamers’) several kilometres long are laid is the water and an airgun is fired from the vessel. ‘Hydrophones’ on the cables, which lie at regular intervals, collect the sound reflections.
The data generated help geologists ‘map’ what lies beneath and find out areas that are most likely to hold oil and gas.
The Indian Government-owned Cochin Shipyard has never built a seismic ship till now. Asked about this, the company’s Chairman and Managing Director, Commodore K. Subramaniam spoke of the “outstanding design team” available with the company, due to which the shipyard is currently building the country’s first indigenous aircraft carrier.
Foreign tie-up
Madhu S. Nair, Cochin Shipyard’s General Manager – Marketing, said the company could build all of the ship except the seismic equipment.
Two global majors — Sercel of France and Ion of the US — specialise in seismic equipment. “We are talking to both,” Nair said.
ramesh.m@thehindu.co.in