Historic ONGC Offshore Rig Sagar Vijay Goes Under the Hammer in August E-Auction

New Delhi: Oil and Natural Gas Corporation (ONGC) has announced the e-auction of Rig Sagar Vijay, a distinguished offshore drilling asset that played a significant role in India's offshore energy exploration journey. The auction is scheduled to be held on August 7, 2026, through the MSTC portal.

An IRS-classed Mobile Offshore Drilling Unit (MODU), Sagar Vijay is equipped with advanced offshore drilling and station-keeping capabilities, making it a notable asset in India's offshore drilling history. The rig is being offered on an "As Is Where Is" basis and is currently located at Dighi Port, Maharashtra.

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For decades, Sagar Vijay contributed to ONGC's offshore drilling ambitions, supporting exploration and production activities in challenging marine environments. The rig stands as a symbol of engineering resilience, operational excellence, and the technological progress that helped strengthen India's energy security.

The e-auction presents an opportunity for offshore operators, drilling contractors, engineering firms, and industry stakeholders to acquire a proven offshore drilling unit with a legacy of dependable performance. Interested participants are encouraged to review the auction details and submit bids through the MSTC platform.

As ONGC continues to modernize its asset portfolio, the auction of Sagar Vijay marks the transition of an iconic offshore unit toward a new chapter of service and utilization.

Industry participants seeking strategic offshore assets are expected to closely watch the auction, given the rig's established operational history and offshore capabilities.

Auction Details

Asset: Rig Sagar Vijay
Type: IRS-Classed Mobile Offshore Drilling Unit (MODU)
Location: Dighi Port, Maharashtra
Auction Date: August 7, 2026
Mode: E-Auction through MSTC Portal
Basis: "As Is Where Is"

ONGC has invited interested operators and contractors to participate in the auction and explore the potential of one of India's notable offshore drilling assets.