ONGC seeks Indian shipyards for new fleet of platform supply vessels

By Admin

01 Aug, 2025

India’s largest oil and gas explorer, Oil and Natural Gas Corporation Ltd (ONGC), has launched a pivotal initiative to source four new Platform Supply Vessels (PSVs) from public sector shipyards in India. This move is not just a step toward meeting the growing demands of offshore energy operations but also a strategic leap toward fostering self-reliance in the country’s maritime infrastructure.

Boosting India's Shipbuilding Ecosystem

By anchoring the project within the domestic shipbuilding ecosystem, ONGC seeks to invigorate India's shipbuilding capabilities and reduce dependence on foreign suppliers. These PSVs are critical for offshore oil and gas operations, transporting essential equipment, supplies, and personnel to platforms at sea, and are indispensable in ensuring the smooth functioning of India’s offshore exploration and production activities.

A Strategic Investment in Maritime Infrastructure

The cost of building a new PSV can vary significantly depending on size and features. A large PSV with a 4,500 DWT capacity may cost around $54 million, whereas smaller to medium-sized vessels could range from $15 to $30 million. This planned investment is not only aimed at fulfilling operational needs but also at catalyzing the growth of India’s maritime manufacturing sector.

Public Sector Shipyards in Focus

ONGC has initiated preliminary discussions with major public sector shipyards including Cochin Shipyard Ltd, Hindustan Shipyard Ltd, Mazagon Dock Shipbuilders Ltd, and Garden Reach Shipbuilders and Engineers Ltd. A limited-purpose tender is expected to be floated soon to finalize the contracts. These shipyards will play a vital role in shaping the future of India’s offshore fleet, aligning with national goals of industrial development and economic self-reliance.

Backed by a Government-Led Vision

The move is part of a broader government-backed effort driven by an inter-ministerial joint working group formed last year. This group identified a future requirement of nearly 112 ships over the next 10–15 years, including 30 Medium Range oil tankers, 24 very large gas carriers, and several offshore vessels. The government has encouraged oil PSUs to issue tenders for building these vessels locally, and a technical working group has been formed to assist in drafting procurement and tender documents, ensuring smooth execution.

ONGC and IOCL to Lead the Maritime Revival

ONGC, along with Indian Oil Corporation Ltd, is poised to spearhead this ambitious program. The companies have already outlined their need for a diverse fleet comprising diving support vessels, well stimulation vessels, geotechnical investigation vessels, anchor handling tugs, platform supply vessels, offshore supply vessels, and tankers. These specialized vessels will not only bolster India’s energy logistics capabilities but also provide a significant push to the domestic shipbuilding industry.

Conclusion: Navigating Towards Maritime Atmanirbharta

This bold initiative by ONGC symbolizes a shift toward ‘Atmanirbhar Bharat’ in the maritime and energy sectors. By nurturing homegrown shipyards and committing to domestic production, ONGC is not only securing operational efficiency but also contributing to national strategic autonomy. The move sets a precedent for other PSUs to follow, potentially transforming India into a global hub for shipbuilding in the years to come.