Seven extensions in, ONGC plays long game on offshore tender – 19 May 2025

Rather than rushing closure, ONGC appears to be ensuring a level playing field and robust competition.

Sources say the move is meant to accommodate domestic and international vendors negotiating scope-split partnerships.

Major players like L&T and Sapura flooded ONGC with queries during a pre-bid meeting. Interface challenges and commercial concerns led ONGC to issue sequential deadline relaxations.

Moreover, a mid-cycle amendment to the financial evaluation rules—including changes in working capital, LoC formats, and net worth interpretation—forced ONGC to extend submission timelines repeatedly, giving bidders time to rework compliance.