Leading international rig contractors are understood to be competing for two coveted Indian east coast drillship contracts from Oil & Natural Gas Corporation (ONGC), as the Indian state-controlled company looks to secure additional offshore rig capacity amid record-high oil prices.

Several sources familiar with the development told Upstream that ONGC is progressing swiftly on the two drillship tenders, with awards expected to be finalised within weeks.

ONGC had issued tenders earlier this year for two dynamically positioned deep-water drillships capable of operating in water depths up to 1500 and 3000 metres, respectively.