Ramunia Holdings Bhd and its joint venture partner declined to re-tender for a US$190 million (RM602 million) contract with India’s Oil and Natural Gas Corp Ltd (ONGC) due to the long delay in the issuance of the notice of award. The contract was for the construction of up to 10 wellhead platforms.
Ramunia clarified to Bursa Malaysia yesterday that the Ramunia-SEW consortium decided not to participate as ONGC had delayed the notice of award from Sept 2, 2011 to Nov 11, 2011, despite the fact that the consortium was the lowest compliant bidder as declared on Aug 30, beating five other international consortia and one disqualified bidder.
Ramunia had announced on Monday that the consortium would not be participating in the re-tender exercise for the WO-16 cluster and SB-14 wellhead platform project after receiving a new invitation from ONGC to participate in a short re-tender of the project.
Ramunia said in April that Ramunia Fabricators Sdn Bhd had signed a memorandum of understanding with SEW Infrastructure Ltd (India) and in July it announced that the Ramunia-SEW consortium was to bid for this job. If Ramunia had won the job, it would have marked Ramunia’s re-entry into India after a two-year hiatus.
Ramunia was blacklisted by ONGC over issues with a US$685 million field development job in 2008. The two-year blacklist ended in May.
