Joint Venture29 Jul 2025, 05:31 pm
Reliance Industries, ONGC, BP Sign Joint Operating Agreement for Exploration Block GS-OSHP-2022/2
AI Summary
Reliance Industries Limited (RIL) has entered into a Joint Operating Agreement with Oil and Natural Gas Corporation Limited (ONGC) and BP Exploration (Alpha) Limited (BP) for the exploration of Block GS-OSHP-2022/2. The block is located off the western coast in the Saurashtra basin and was awarded to RIL, ONGC, and BP as part of the Hydrocarbon Exploration and Licensing Policy. The parties will pursue exploration operations in the block as per the terms of the award.
Key Highlights
- Reliance Industries, ONGC, and BP have signed a Joint Operating Agreement for Block GS-OSHP-2022/2
- The block is located off the western coast in the Saurashtra basin
- The block was awarded as part of the Hydrocarbon Exploration and Licensing Policy
- Reliance Industries is India's largest private sector company with a revenue of INR 10,71,174 crore (US$ 125.3 billion) for the year ended March 31, 2025