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The Economic Times

Economy / The Economic Times

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ONGC floats $20 billion global tender for deepwater rigs

Oil and Natural Gas Corporation plans a massive oil exploration program. The company will spend between $18 to $20 billion to hire deep-water drilling rigs. This initiative aims to boost India's energy security. ONGC is seeking a mix of drill ships and semi-submersible rigs for up to five years. The company is accelerating its deep-water activities.

25 Mar 2026 12:33 am