New Delhi, May 26: State-run Oil and Natural Gas Corporation (ONGC) on Monday announced the selection of BP Exploration Services India Limited, a UK-based subsidiary of BP Plc, as Technical Services Provider (TSP) for its Western Offshore oil and gas fields, excluding Mumbai High, to enhance production from mature offshore assets.
The appointment follows an international competitive bidding process aimed at attracting global expertise to improve recovery from ageing fields in the Mumbai Offshore Basin.
ONGC said the technical partner will evaluate field performance and recommend production enhancement measures across reservoirs, wells and facilities using advanced technologies and international best practices.
The collaboration builds on ONGC’s existing engagement with BP Exploration Alpha Ltd for the Mumbai High field, where optimisation initiatives have shown early signs of production stabilisation.
For the Western Offshore cluster, BP has projected substantial production gains over the 10-year contract period. Crude oil production is estimated to increase by around 10.8 per cent, while natural gas output could rise by nearly 31.5 per cent over baseline levels.
Combined oil and oil-equivalent gas production is expected to register an increase of about 24 per cent.
According to ONGC, the production improvement is likely to commence from FY27, with larger gains expected to materialise from FY30 onwards.
Under the agreement, BP will receive a fixed service fee during the first two years, followed by a performance-linked fee tied to incremental hydrocarbon production after accounting for additional operating costs.
ONGC said the initiative aligns with its long-term strategy of maximising recovery from mature offshore assets and strengthening India’s energy security through technology-led interventions.
Shares of ONGC settled lower at Rs 284.90 on the NSE on Monday.
