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BP Wins Bid to Operate ONGC's Mumbai High Fields
January 09, 2025
|Hindustan Times Rajasthan
UK's BP Plc won a bid for ONGC's giant Mumbai High oil and gas field, offering to raise crude oil production by 44% and natural gas by a staggering 89% over a 10-year period, potentially changing the fortunes of the vintage field.
NEW DELHI:
Oil and Natural Gas Corporation (ONGC) in a stock exchange filing said it has selected BP Exploration (Alpha) Ltd, a wholly-owned step-down subsidiary of BP Plc, as the Technical Service Provider (TSP) for raising production in the field.
ONGC had in June last year 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.
BP and Royal Dutch Shell put in an Expression of Interest (EoI) at the close of the tender in September.
هذه القصة من طبعة January 09, 2025 من Hindustan Times Rajasthan.
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