ONGC signs contract with BP to enhance production from Mumbai High

ONGC will retain ownership and operational control of the field. Under the terms of the contract, BP will receive a fixed fee for two years for its deployed personnel, followed by a service fee linked to incremental oil and gas production. BP will work in close collaboration with ONGC to stabilise the field’s current production decline and restore it to a robust growth trajectory.

Leveraging its extensive experience in managing some of the world’s largest oil fields, bp will optimise oil recovery at Mumbai High by conducting comprehensive reviews of subsurface models, implementing system optimisations, and enhancing reservoir management practices. This partnership is anticipated to significantly boost domestic oil and gas production, thereby increasing revenue for ONGC and benefiting the people of India while also yielding higher service fee returns for bp.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organisation in India.