ONGC has signed a contract worth over ₹1,000 crore with Garden Reach Shipbuilders & Engineers Ltd (GRSE) for the construction of four hybrid electric Platform Supply Vessels, or PSVs. The contract was signed digitally on October 15, 2026.
The signing was witnessed by Cdr. Shantanu Bose, Indian Navy (Retd.), Director, Shipbuilding, GRSE; ONGC Director, Strategy and Corporate Affairs, Satyan Kumar; ONGC Director, Production, Bhaskar Chowdary Nettem; and ONGC Chief Corporate Strategy, Ratnesh Kumar.
The agreement marks the first phase of ONGC’s plan to order 25 offshore support vessels by 2030. Under this plan, ONGC aims to own approximately 30 per cent of its offshore fleet.
The four hybrid electric Platform Supply Vessels will be equipped with hybrid propulsion and advanced dynamic positioning systems. These features are expected to improve operational reliability and fuel efficiency, while supporting safer and greener offshore operations.
The initiative is aligned with the Maritime Amrit Kaal Vision 2047. It is also expected to strengthen indigenous shipbuilding capabilities and support India’s energy security, in line with the objectives of Atmanirbhar Bharat and Make in India.
Platform Supply Vessels play an important role in offshore oil and gas operations by transporting equipment, supplies and personnel to offshore installations. The addition of hybrid electric vessels will help ONGC modernise its offshore support fleet and reduce the environmental impact of its operations.
The contract reflects growing collaboration between India’s energy sector and domestic shipbuilding industry. It also highlights ONGC’s focus on adopting cleaner technologies and strengthening self-reliance in critical maritime infrastructure.
Source: ONGC
