ONGC · IOCL · BPCL · HPCL

Surety bonds for oil & gas PSU contracts.

Q: How much does an oil & gas PSU surety bond cost?

Indicative premium is typically 0.55–1.30% of bond face value per year, depending on contract size, tenure and risk grade.

Q: How fast can a bond be issued for these PSUs?

Indicative quote in 4 working hours once we've confirmed the tender's acceptance. Bond document typically issued in 2–5 working days.

Bid, performance and retention bonds for oilfield services, refinery EPC, pipeline and retail outlet construction contracts with India's PSU oil and gas majors. Acceptance confirmed against your specific tender before you bid.

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4PSU majors covered

0.55–1.30%indicative premium p.a.

4 hrsindicative quote turnaround

Legal basis

These are central oil & gas PSUs. Central PSU procurement increasingly aligns with GFR 2023 Rule 170 — we verify your specific tender before you bid.

— 01 — Coverage

PSU oil & gas majors we cover.

ONGC

Oil and Natural Gas Corporation — oilfield services, drilling support, offshore/onshore project contracts.

IOCL

Indian Oil Corporation — refinery EPC and turnaround, pipeline, retail outlet and depot construction.

BPCL

Bharat Petroleum — refinery works, cross-country pipelines, retail infrastructure contracts.

HPCL

Hindustan Petroleum — refinery expansion, pipeline and marketing infrastructure contracts.

— 02 — Bond types

What we place.

Bid bond

Secures your tender bid on EPC or services contracts.

Performance bond

Guarantees delivery on the awarded contract.

Mobilisation / advance

Frees the mobilisation advance while tracking recovery.

Retention bond

Releases retention money through the defect-liability period.

— 03 — FAQs

Oil & gas PSU surety bond questions.

Do ONGC, IOCL, BPCL and HPCL accept insurance surety bonds?

These are central oil and gas PSUs, and central PSU procurement increasingly aligns with the GFR 2023 Rule 170 framework recognising insurance surety bonds as an acceptable bid and performance security instrument. We confirm acceptance against your specific tender before you bid.

What kind of contracts need a surety bond with these PSUs?

Oilfield services and drilling support (ONGC), refinery EPC and turnaround contracts, cross-country pipeline construction, and retail outlet / depot construction (IOCL, BPCL, HPCL).

How much does an oil & gas PSU surety bond cost?

Indicative premium is typically 0.55–1.30% of bond face value per year, depending on contract size, tenure and risk grade.

How fast can a bond be issued for these PSUs?

Indicative quote in 4 working hours once we've confirmed the tender's acceptance. Bond document typically issued in 2–5 working days.

Have an oil & gas PSU tender? Let's check it.

Send the tender document — we'll confirm acceptance and come back with an indicative rate band in 4 working hours.

Get a bond quote → WhatsApp the desk