Events Details
Header Details
- Number- 17
- Company
- Oil and Natural Gas Corporation Limited
- Department
- ONGC Crude Oil
- Name
- E- Tender for Sale of Crude Oil from KG-DWN-98/2 block
- Description
- E- Tender for Sale of Crude Oil from KG-DWN-98/2 block against RFP NO - ONGC/RFP/Crude Oil/KG-DWN-98/2/06
- Base Currency
- USD
- Auction Type
- Forward Auction
- Auction Start Time
- 2025/02/21 12:16:26
- Auction End Time
- 2025/02/21 12:16:26
- Remarks
The bidder can quote for minimum 1 Lot and maximum for 4 lots, where one lot has 3 crude oil cargoes of that quarter and 1 cargo is equal to 450000 US Barrels (+/- 10 %, at seller’s option)
Price Parameters
- Pricing Term
- Per Unit
- Number of Decimals Allowed in Price
- 2
- Opening Price As Bid Starting Price
- Yes
- First Bid Period Applicable
- No
- Allocated Price Tie Not Allowed
- Not Applicable
- Price increase with volume
- Not Applicable
- Sealed Bid in Multiple of Increment Value
- Not Applicable
- Is dsc Applicable?
- Yes
Display Parameters
- Anonymity To Auctioneer
- Yes
Added Items
450000 BBLs (+/- 10 %, at seller’s option)
| Sr. No. | Item Name | Category | Description | Quantity / UOM | Opening Premium Over Reserve Price (% to Dated Brent) |
|---|---|---|---|---|---|
| 1 | Lot 1 (Apr'25 – Jun'25) | Crude Oil | Lot 1 : 1st April 2025 – 30th June 2025 (03 Cargoes) | 450000.00 / Barrel | 0.01 |
| 2 | Lot 2 (July'25 – Sept'25) | Crude Oil | Lot 2 : 1st July 2025 – 30th September 2025 (03 Cargoes) | 450000.00 / Barrel | 0.01 |
| 3 | Lot 3 (Oct'25 – Dec'25) | Crude Oil | Lot 3 : 1st October 2025 – 31st December 2025 (03 Cargoes) | 450000.00 / Barrel | 0.01 |
| 4 | Lot 4 (Jan'26 – Mar'26) | Crude Oil | Lot 4 : 1st January 2026 – 31st March 2026 (03 Cargoes) | 450000.00 / Barrel | 0.01 |
Note :- Reserve Price plus Quoted Price Bid (Positive) (P)
Reserve Price = Benchmark price +2.5 % of Benchmark Price
“Benchmark Price” in USD per barrel applicable for supplies under this RFP shall be monthly average of the daily mean values of the high and low assessments of Dated Brent (PCAAS00) Crude Oil quotations (as published under the Spot Crude Assessment Heading in Platt’s Crude Oil MARKETWIRE spot assessment) in US $ per barrel for the month of supply, to be rounded off to THREE decimal places
Price Bid = Bidder is required to quote Price Bid (“P”) at the time of submission of technical bid which can be non-zero positive percentage number( percentage to Dated Brent quotes) up to two decimal places. The “P” can be modified before bid submission deadline but only last submitted price bid will be considered final.
Sealed Bid Calendar
| Particular | Start Date & Time | End Date & Time |
|---|---|---|
| Bid Submission | 2025-02-18 09:00:00 | 2025-02-19 15:00:00 |
| Pre-Bid Clarification | 2025-02-05 11:00:00 | 2025-02-07 17:00:00 |
| Bid Opening | 2025-02-19 15:40:00 |
Auction Documents
Download All Documents| Document Name | View |
|---|---|
| E-Tendor Notice |
|
Documents Required from Vendors/Suppliers
| Sr. No. | Particulars |
|---|---|
| 1 | Valid PAN and VAT/CST/GST (as applicable) Registration certificate |
| 2 | Power of Attorney / Board Resolution in the name of the authorized representative of the Bidder |
| 3 | Audited financial statements of previous three Financial Years. The latest financial statement should not be later than 18 months from the date of submission of bid. |
| 4 | Bidding document acknowledgement pro- forma |
| 5 | Confirmations to be given by the bidders |
| 6 | Pro-forma certificate on relatives of directors of ONGC to be submitted pursuant to section 297 of companies act, 1956 |
| 7 | PSU Bidders to submit Supporting Document for Appendix-5 (only for PSU) |
| 8 | Undertaking regarding Fraud Prevention Policy of ONGC |
| 9 | Undertaking regarding statutory/ regulatory compliances prior to commencement of crude oil off-take |
| 10 | Declaration regarding banning order |
| 11 | Proforma of integrity pact |
Terms & Conditions
Undertaking that we have gone through Crude Offtake Sale Agreement (COSA) and RFP and any Addendum/Corrigendum thereto. |