Joint Venture28 Jul 2025, 07:51 pm
ONGC, BP, and Reliance Sign JOA for Offshore Block in Saurashtra Basin
AI Summary
Oil and Natural Gas Corporation Limited (ONGC), in partnership with BP Exploration (Alpha) Ltd and Reliance Industries Limited (RIL), has formally signed a Joint Operating Agreement (JOA) for offshore exploration of Block GS-OSHP-2022/2. The block, located off the western coast in the Saurashtra Basin, spans an area of approximately 5,454 square kilometres and is classified under Category-II basins. The consortium, with ONGC designated as the Operator, is set to undertake exploratory activities aimed at assessing and harnessing the hydrocarbon potential of the region. The signing ceremony was attended by key dignitaries from all three companies.
Key Highlights
- ONGC, BP, and Reliance have signed a JOA for offshore exploration in the Saurashtra Basin.
- The block spans approximately 5,454 square kilometres and is classified under Category-II basins.
- ONGC is designated as the Operator of the consortium.
- The agreement was signed at ONGC’s Deendayal Urja Bhavan, Vasant Kunj, New Delhi.
- The joint venture reflects the consortium’s shared commitment to advancing India’s energy security.