ONGC appoints BP for western offshore oil and gas fields
NEW DELHI: Public sector Oil and Natural Gas Corporation ( ONGC ) has appointed the UK’s BP as a technical services provider to boost output from its western offshore oil and gas fields.
ONGC said it had appointed a technical services provider (TSP) for Mumbai High , the largest oilfield in the Mumbai Offshore Basin , in January last year, and preliminary production data indicated moderation in decline and greater output stability through focused well, reservoir and asset management, optimisation of existing wells, enhanced surveillance, and infrastructure de-bottlenecking.
The company said in a statement that BP Exploration Services India Limited, a wholly-owned step-down subsidiary of BP Plc, was selected through an international competitive bidding process to enhance production across western offshore fields in the Mumbai Offshore Basin, excluding Mumbai High. It added that the TSP will assess reservoir performance and identify operational improvements across mature offshore fields using global technologies and management practices.
In a separate statement, BP also confirmed that it was selected by ONGC as TSP for western offshore fields, excluding Mumbai High.
The project has the potential to increase crude oil production by nearly 10.8%, raising output to 51.3 million tonnes from 46.3 MT over the 10-year contract period, ONGC said. Natural gas production is also projected to rise 31.5% to 108.7 billion cubic metres from 82.7 bcm. Oil and oil-equivalent gas production from the western offshore fields is expected to rise about 24%, from 130 MT to about 160 MT of oil equivalent during the contract period.
“The increase is expected to start becoming visible from FY27, with full-scale impact expected from FY30,” the company said.
Under the agreement, the technical services provider will receive a fixed fee for the first two years, followed by a share of revenue generated from incremental hydrocarbon production after cost recovery.
ONGC, which accounts for about 75% of India’s domestic crude oil and natural gas production, said the partnership will help unlock additional output from mature offshore assets while supporting India’s energy security goals amid rising demand.
Mumbai Offshore Basin, comprising 43 blocks, is ONGC’s most prolific hydrocarbon-producing basin.
ONGC said it had appointed a technical services provider (TSP) for Mumbai High , the largest oilfield in the Mumbai Offshore Basin , in January last year, and preliminary production data indicated moderation in decline and greater output stability through focused well, reservoir and asset management, optimisation of existing wells, enhanced surveillance, and infrastructure de-bottlenecking.
The company said in a statement that BP Exploration Services India Limited, a wholly-owned step-down subsidiary of BP Plc, was selected through an international competitive bidding process to enhance production across western offshore fields in the Mumbai Offshore Basin, excluding Mumbai High. It added that the TSP will assess reservoir performance and identify operational improvements across mature offshore fields using global technologies and management practices.
In a separate statement, BP also confirmed that it was selected by ONGC as TSP for western offshore fields, excluding Mumbai High.
The project has the potential to increase crude oil production by nearly 10.8%, raising output to 51.3 million tonnes from 46.3 MT over the 10-year contract period, ONGC said. Natural gas production is also projected to rise 31.5% to 108.7 billion cubic metres from 82.7 bcm. Oil and oil-equivalent gas production from the western offshore fields is expected to rise about 24%, from 130 MT to about 160 MT of oil equivalent during the contract period.
“The increase is expected to start becoming visible from FY27, with full-scale impact expected from FY30,” the company said.
Under the agreement, the technical services provider will receive a fixed fee for the first two years, followed by a share of revenue generated from incremental hydrocarbon production after cost recovery.
ONGC, which accounts for about 75% of India’s domestic crude oil and natural gas production, said the partnership will help unlock additional output from mature offshore assets while supporting India’s energy security goals amid rising demand.
Mumbai Offshore Basin, comprising 43 blocks, is ONGC’s most prolific hydrocarbon-producing basin.