ONGC and bp Sign Technical Services Contract for Western Offshore Basin

Oil and Natural Gas Corporation Ltd (ONGC) and bp have signed a new Technical Services Contract, appointing bp as the Technical Services Provider (TSP) for ONGC's fields in the Western Offshore Basin. This agreement expands their collaboration beyond Mumbai High and aims to enhance production from these mature hydrocarbon assets by deploying advanced technologies and global expertise. ONGC will retain ownership and operational control, while bp will focus on reservoir, well, and production facility interventions to moderate production decline, improve recovery, and support sustained growth. bp will receive a fixed fee for the initial two years, followed by a service fee linked to incremental hydrocarbon production revenue. This follows a successful collaboration at Mumbai High initiated in February 2025.