Garden Reach Shipbuilders & Engineers (GRSE), a state-owned shipyard, has added four Offshore Support Vessels (OSVs) to its commercial shipbuilding order book with a Rs 1,032 crore contract from Oil and Natural Gas Corporation (ONGC).
The oil major’s offshore logistical and operational skills would be enhanced by the contract, which was granted to ONGC after a competitive bidding process. The offshore oil and gas assets operated by ONGC will receive assistance from the vessels for both exploration and production.
This new order is a major step toward GRSE’s goal of expanding its business beyond defence shipbuilding; it is one of the biggest commercial contracts the company has won in the past few months. Although GRSE has been steadily increasing its footprint in the commercial vessel segment, it continues to play a crucial role in supplying the Indian Navy and Coast Guard with warships and naval platforms.
As part of its marine development programs, the Indian government is trying to boost local manufacturing capabilities, and analysts in the industry have seen that increased investments in offshore energy infrastructure are giving local shipbuilders new chances.
In order to carry supplies, workers, and equipment to offshore drilling and production plants, Offshore Support Vessels are needed. Towing, emergency response, and other logistical tasks related to offshore asset maintenance also make use of them.
The vessels that ONGC has bought would presumably aid with the company’s offshore operations off the coast of western India, which is home to a significant amount of the country’s natural gas and crude oil reserves.
The deal is part of ONGC’s ongoing efforts to increase operational efficiency across its offshore assets and boost domestic hydrocarbon output.
Image: India Infoline
