ONGC Partners with BP to Enhance Output at its Largest Oil Field

09 Jan 2025 CW Team

India's leading explorer, Oil and Natural Gas Corporation (ONGC), announced that energy giant BP would serve as a technical service provider to enhance oil and gas production from the Mumbai High field, the country's largest producing field located off its west coast.

BP has committed to increasing oil and gas production from the Mumbai High field, discovered in 1974, by up to 60%. The field, which peaked at 471,000 barrels per day (bpd) of oil in March 1985, had seen its output decline to approximately 134,000 bpd by April 2024, as noted in a tender document issued last year.

India, the world's third-largest oil importer and consumer, has been striving to boost its stagnant oil and gas production. In June 2024, the government revealed that ONGC was exploring a technical partnership with a global oil major to achieve this goal. BP's board also met with India's Oil Minister, Hardeep Singh Puri, in September 2024 to discuss collaboration.

The country has been encouraging foreign companies to participate in its exploration programs, with Puri emphasising this push last year. BP, leveraging its expertise in optimising mature fields, will now assist in enhancing production at Mumbai High.

In a statement, BP expressed optimism about the partnership, highlighting its extensive experience in improving recovery and performance from mature fields globally as a key asset in unlocking Mumbai High's potential.

Additionally, BP, in collaboration with Reliance Industries, operates 1,900 fuel retail stations across India and produces oil and gas from a deepwater block in the Krishna-Godavari basin on the country's east coast. The Reliance-BP partnership has also joined forces with ONGC to bid for exploration rights for an offshore block in India.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..