ONGC Partners with bp to Explore Offshore Basins in India
OIL & GAS

ONGC Partners with bp to Explore Offshore Basins in India

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.

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. 

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement