ONGC and Reliance Sign Landmark Agreement for Deepwater Resource Sharing on India’s East Coast
ONGC and Reliance have signed a path-breaking agreement to share deepwater resources on India’s East Coast, particularly across the Krishna Godavari (KG) basin and Andaman offshore. This agreement is aligned with the Oilfields (Regulation and Development) Amendment Act, 2025 (ORDA Act 2025), introduced by the Ministry of Petroleum and Natural Gas (MoPNG). The agreement is expected to deliver measurable benefits through a structured framework for pooling critical assets and capabilities, including cost optimization, improved resource utilization, faster mobilization and execution, and stronger operational resilience and safety readiness. The agreement reflects the Government of India’s emphasis on energy security through scaled domestic exploration and production.
Key Highlights
- ONGC and Reliance will pursue sharing of key resources required for offshore operations, which may include onshore and offshore processing facilities, drilling rigs, marine vessels, power, pipelines, logging and well services etc.
- Cost optimization through shared use of high-value rigs, vessels, logistics and specialized subsea equipment.
- Improved resource utilization by reducing duplication and idle capacity across operators.
- Faster mobilization and execution by improving access to the limited deepwater services available.
- Stronger operational resilience and safety readiness through shared emergency response and training capabilities.