India's ONGC and bp Sign Technical Services Contract for Western Offshore Basin

en.Wedoany.com Reported - On June 25, 2026, India's Oil and Natural Gas Corporation (ONGC) signed a technical services contract with bp, under which bp will serve as the technical services provider for ONGC's Western Offshore Basin oil fields.

The Western Offshore Basin consists of 43 blocks and is ONGC's highest-producing oil and gas basin. Under the agreement, bp will collaborate with ONGC's multidisciplinary team to identify and implement targeted interventions for reservoirs, wells, and production facilities, deploying advanced technologies, global technical expertise, and best operational practices to mitigate production decline, enhance oil and gas recovery and operational efficiency, and support sustained production growth. ONGC will retain full ownership and operational control of the assets.

In terms of commercial terms, bp will receive a fixed fee for the first two years, followed by a service fee linked to a revenue-sharing percentage of net incremental oil and gas production.

This agreement builds on the technical services contract for the Mumbai High oil field signed in February 2025. In the first year of that collaboration, the two parties mitigated production decline and achieved growth by optimizing existing wells, enhancing monitoring, and implementing targeted reservoir, well, and facility management initiatives. ONGC Chairman Arun Kumar Singh and bp India Chairman Kartikeya Dube commented on the anticipated improvements in recovery rates, efficiency gains, and India's energy security.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com