Oil and Natural Gas Corporation Limited (ONGC) has signed a contract with bp, appointing the energy major as the Technical Services Provider (TSP) for Mumbai High, India’s largest offshore oil field.
Under the agreement, ONGC retains ownership and operational control, while bp will deploy technical expertise to stabilize declining production and drive growth. bp will receive a fixed fee for two years, followed by a service fee based on incremental oil and gas output.
Drawing on its global experience in managing complex oil fields, bp will enhance reservoir management, optimize systems, and improve oil recovery at Mumbai High. This collaboration is expected to significantly boost India’s domestic energy production, benefiting both ONGC and bp while advancing India’s energy security goals.
The partnership has been endorsed at the highest levels, with India’s Petroleum Minister Shri Hardeep Puri highlighting its role in strengthening the nation’s energy independence. Senior officials from ONGC and the Ministry of Petroleum and Natural Gas have emphasized the strategic importance of leveraging bp’s advanced recovery technologies.
bp’s team of technical experts is set to commence operations by March 2025, with both companies establishing joint management teams to ensure seamless execution.
Shri Arun Kumar Singh, Chairman and CEO of ONGC, stated, “By engaging a TSP, ONGC aims to unlock the full potential of Mumbai High, securing its future role in India’s energy landscape.”
Kartikeya Dube, bp India Chairman, added, “We are proud to bring our expertise to Mumbai High and contribute to India’s vision of energy independence and security.”
