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Oil And Natural Gas Corporation (ONGC) has said the energy major BP will act as technical service provider to help boost oil and gas output from the country’s largest producing field, off India’s west coast.
“After the bid evaluation process, BP Exploration (Alpha) Ltd, a wholly-owned step-down subsidiary of BP Plc, UK has been selected as the technical service provider (TSP),” ONGC said in a stock exchange filing.
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“BP has promised an increase of up to 60% in production of oil and gas output from the Mumbai High field, discovered in 1974,” it said.
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“The TSP will review the field performance and identify improvements in reservoir, facilities and wells to enhance the production from Mumbai High field. The TSP has indicated a substantial increase in oil plus oil equivalent gas production (up to 60 per cent) from baseline production levels (reputed third-party vetted production estimates with natural decline) over 10 years contract period.”
Last year in June, ONGC had floated a tender seeking foreign partners to reverse declining output at its flagship Mumbai High fields, offering a share of revenue from incremental production plus a fixed fee but not any equity stake.
The field reached a peak production level of 471,000 barrels per day of oil in March 1985, and its output had declined to about 134,000 bpd in April 2024, according to the tender document floated last year.
The TSP would have to do a comprehensive review of the field performance and identify improvements as well as implement suitable technological interventions and practices for improving production and recovery.
BP, in a tie-up 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, off the country’s east coast.
The Reliance-BP tie-up has teamed up with ONGC to bid for exploration rights for an offshore block in India.
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