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ONGC Taps BP for Offshore Output Boost
25 May
Summary
- BP selected to boost output from ONGC's western offshore fields.
- Partnership aims to increase oil production by 10.8% over 10 years.
- Natural gas output is projected to rise 31.5% under the agreement.
The Oil and Natural Gas Corporation (ONGC) has selected BP Exploration Services India Limited as a technical services provider for its western offshore oil and gas fields. This strategic collaboration aims to boost production from mature assets, excluding the prominent Mumbai High field. BP's role will involve assessing reservoir performance and identifying operational improvements using global technologies.
This partnership is expected to significantly increase crude oil production by approximately 10.8% and natural gas output by 31.5% over the 10-year contract. The enhanced production is anticipated to commence from fiscal year 2027, with a full impact expected by FY30. Preliminary results from a prior engagement with BP for the Mumbai High field have already shown promising signs of stabilizing production.
ONGC, a major contributor to India's domestic energy production, seeks to leverage this collaboration to secure India's energy future amidst rising demand. The initiative focuses on unlocking additional output from existing offshore fields through advanced technologies and best practices, thereby supporting the nation's energy security objectives.
