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.
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.