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UK-headquartered energy giant BP has joined forces with India’s government-owned energy giant Oil and Natural Gas Corporation (ONGC) to bolster hydrocarbon output in the Western Offshore Basin (Arabian Sea), seen as India’s “most prolific” offshore hydrocarbon region.
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ONGC and BP have signed a technical services contract to enhance production from the Asian player’s fields in the Western Offshore Basin, said to be a critical pillar of India’s energy security. This deal, which builds on the progress the two companies achieved at Mumbai High , will bring advanced technologies, global expertise, and focused interventions to improve recovery, enhance efficiency, moderate natural decline, and sustain production from mature fields.
Under the agreement, BP has been appointed as the technical services provider (TSP-1) for ONGC’s Western Offshore Basin fields, with India’s government-owned firm retaining complete ownership and operational control of the assets. The contract was inked in the presence of Shri Hardeep Singh Puri , Minister of Petroleum and Natural Gas, and Dr. Neeraj Mittal , Secretary, Government of India, Ministry of Petroleum and Natural Gas.
As India’s national oil company (NOC), ONGC plays a pivotal role in strengthening the country’s energy security, accounting for approximately 64% of the domestic crude oil and natural gas production. Comprising 43 blocks, the Western Offshore Basin is the Asian operator’s most prolific hydrocarbon-producing basin, contributing significantly to the nation’s energy requirements for over four decades.
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Shri Kartikeya Dube , BP India Chairman and BP Senior Vice President, emphasized: “We look forward to bringing BP’s global expertise to support enhanced production from the Western Offshore Basin and strengthen India’s energy security.”
BP will work closely with ONGC’s multidisciplinary teams to identify and implement focused interventions across reservoirs, wells, and production facilities, as the collaboration will seek to moderate natural production decline, improve hydrocarbon recovery and operational efficiency, and support sustained production growth.
The UK-headquartered giant will receive a fixed fee for the first two years, followed by a service fee linked to a percentage share of revenue generated from net incremental hydrocarbon production.
Shri Arun Kumar Singh , ONGC’s Chairman and CEO, commented: “Building on the encouraging outcomes at Mumbai High, this expanded collaboration will support improved recovery, greater efficiency and sustained production growth.”
10 days ago
about 1 month ago
UK-headquartered energy giant BP has joined forces with India’s government-owned energy giant Oil and Natural Gas Corporation (ONGC) to bolster hydrocarbon output in the Western Offshore Basin (Arabian Sea), seen as India’s “most prolific” offshore hydrocarbon region.
