ONGC sees Mumbai High oil recovery from Jan

STATE-RUN OIL AND Natural Gas Corp (ONGC) expects recovery in its oil production from the Mumbai High field, where it partners with British oil major BP, to start from January.

- ARUNIMA BHARADWAJ

The company on Tuesday said that under the tie-up, ONGC is likely to see “green shoots” of improvement from January onwards with major production gains anticipated in FY29-FY30.

“Under the TSP (technical service provider) with BP, we are likely to see green shoots from January onwards. We have got some positive indications already. And under this contract, what has been committed so to say by BP is that over a 10 year period, we should increase our oil and gas production from Mumbai High by about 60% on a cumulative basis,” the company said in an analyst call.

The company said that BP is likely to come up with a fully scheduled plan on the incremental production from the MH field by January 2027.