ONGC Fuels 'Make in India' Shipbuilding with New Vessel Order

Oil and Natural Gas Corporation (ONGC) is actively exploring partnerships with public sector shipyards to construct four Platform Supply Vessels (PSVs), as part of a government-led initiative to strengthen India’s domestic shipbuilding industry.

PSVs play a critical role in supporting offshore oil and gas exploration, transporting equipment, supplies, and personnel to and from offshore platforms. ONGC has initiated discussions with key state-owned shipyards, including Cochin Shipyard, Hindustan Shipyard, Mazagon Dock Shipbuilders, and Garden Reach Shipbuilders and Engineers, with a tender expected to be issued soon.

This effort is part of a broader national strategy that anticipates the need for 112 vessels by state-run oil companies over the next 10 to 15 years. This includes 30 Medium Range (MR) oil tankers, 24 Very Large Gas Carriers (VLGCs), and a range of offshore support vessels.

A joint working group is currently assisting in the preparation of procurement and tender documents to streamline execution. Both ONGC and Indian Oil Corporation (IOCL) are expected to lead this push to catalyze domestic shipbuilding capabilities and reduce reliance on foreign-built vessels.

News by Rahul Yelligetti.