State-owned Oil and Natural Gas Corporation (ONGC) on Thursday signed a strategic Memorandum of Understanding (MoU) with bp plc to collaborate on drilling stratigraphic wells in India’s Category II and III offshore sedimentary basins: Andaman, Mahanadi, Saurashtra, and Bengal.

This partnership aims to enhance geological understanding and unlock untapped hydrocarbon potential, thereby strengthening India’s long-term energy security, ONGC stated.

The MoU was signed in the presence of Oil Minister Hardeep Singh Puri during the Urja Varta 2025 event, reaffirming the government’s commitment to deepen global collaboration in India’s energy journey.

“We are excited to deepen our existing alliance with ONGC on this project of national and strategic significance. Drilling new stratigraphic wells will offer valuable insights and potential. bp’s expertise in deepwater exploration, supported by advanced seismic technologies, will greatly assist in evaluating and drilling these wells,” said Kartikeya Dube, Head of Country, bp India.

Earlier, ONGC selected bp as the technical service provider to enhance production at its Mumbai High oil and gas field, targeting up to a 60 per cent increase over baseline levels.

BP has projected a significant rise in oil and oil-equivalent gas production—up to 60 per cent from baseline (independently verified estimates accounting for natural decline)—over a ten-year contract period.

ONGC has also indicated ongoing discussions for technology partnerships with other global energy majors such as Shell and Petronas for multiple offshore gas fields.

Alongside efforts to reverse production decline in mature fields, ONGC expects to commence production soon in several new fields, including Tapti Daman, Kutch, and the Mahanadi basin.