ONGC and BP partner up for Mumbai High field production enhancement

Mumbai, India - Oil and Natural Gas Corporation Limited (ONGC) and bp have signed a contract that will see bp serve as the Technical Services Provider (TSP) for India's largest offshore oil field, Mumbai High. Under the terms of the contract, bp will receive a fixed fee for two years, followed by a service fee linked to incremental oil and gas production. The partnership aims to stabilize the field's current production decline and restore it to a robust growth trajectory. This collaboration is a significant step towards India's quest for energy self-sufficiency, as ONGC retains ownership and operational control of the field while leveraging bp's technical expertise. Both companies have established senior management teams to ensure seamless project execution. The signing, which took place in the presence of Honorable Minister of Petroleum and Natural Gas Shri Hardeep Puri, has been hailed as a major boost for India's energy sector.

Oil and Natural Gas Corporation Ltd (ONGC) is India's largest producer of crude oil and natural gas, engaged in exploration, production, and development of hydrocarbon resources.

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