Doing so would enable the state player to capitalise on rock-bottom rig dayrates and substantially lower its development costs on the project, currently pegged at more than $8 billion.
ONGC wants to fix long-term charters of five deep-water rigs for KG-DWN-98/2, with costs initially estimated at between $1.5 billion and $2 billion.
However, an early decision on the rig contracts could offer savings of more than $600 million, industry sources claim.
The
