Oil and Natural Gas Corporation Limited ONGC, which has cancelled a fiveyear rig supply contract with Great Offshore Limited, plans to issue a new tender. The company has cancelled the contract with Great Offshore as it could not supply the rig in time. The Great Offshore rig, which is being built at Bharati Shipyard, was supposed to be provided by May 15, 2009. It could not be constructed in time because of the financial problems and currently it will take about five months to complete it.

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