Key state-owned oil and gas companies in the Asia-Pacific region, including India’s Oil & Natural Gas Corporation (ONGC) and PetroVietnam, are expected to continue their spending on offshore projects, with India alone likely to offer more than $10 billion worth of orders to offshore contractors during the next few years, said industry sources.
ONGC’s KG-DWN-98/2 project and Reliance’s KG-D6 deep-water development projects on the east coast are likely to dominate deep-water developments in India, providing several major opportunities for offshore contractors.
