ONGC and BP have signed a contract appointing BP as the Technical Services Provider (TSP) for Mumbai High, India’s largest offshore oil field.
ONGC retains ownership and operational control, while BP will receive a fixed fee for two years and a service fee linked to incremental production.
BP will leverage its global expertise to stabilize and enhance production by optimizing sub-surface models, system operations, and reservoir management.
The partnership aims to increase domestic oil and gas production, benefiting ONGC, India’s economy, and bp through higher service fee returns.
A team of technical experts will be assembled by March 2025, with a Senior and Joint Management Team already established for seamless execution.
Minister Hardeep Puri highlighted the collaboration as a milestone in India’s energy self-sufficiency drive under PM Narendra Modi’s leadership.
Secretary, MoPNG, Pankaj Jain, emphasized the strategic importance of global best practices in optimizing Mumbai High’s production.
ONGC Chairman and CEO Arun Kumar Singh reaffirmed the commitment to leveraging advanced technologies for Mumbai High’s future contributions.
BP India Chairman Kartikeya Dube expressed pride in the partnership, reinforcing BP’s commitment to India’s energy independence and security.