ONGC’s project to convert Sagar Samrat rig into mobile processing unit has missed the deadline again. Rs. 762 crore project was to be completed in May this year which did not happen and the deadline was extended to November 2013. However, revised deadline too was not achieved. Till September this year, only half of the project work was completed. Considering the slow pace of progress, deadline has once again been revised to May 2014.
ONGC had awarded the project to convert Sagar Samrat to the consortium of Mercator and Gulf Piping for $ 153 million in November 2011. The project involved in conversion of mobile offshore drilling unit into a mobile offshore production unit. Incidentally, Sagar Samrat is ONGC’s and also India’s first drilling rig.