NEW DELHI: Oil and Natural Gas Corporation (ONGC), India’s leading oil and gas explorer, has selected UK-based BP as a technical service provider to enhance production from the country’s largest producing field in Maharashtra. According to ONGC, BP expects to achieve a substantial increase in oil and gas equivalent (O+OEG) production of up to 60% from baseline levels over the 10-year contract period.“After the bid evaluation process, M/s BP Exploration (Alpha) Ltd., a wholly-owned step-down subsidiary of BP Plc, UK has been selected as the TSP. The TSP will review the field performance & identify improvements in reservoir, facilities and wells to enhance the production from MH field,” said ONGC in an exchange filing.On June 1, 2024, ONGC issued an International Competitive Bidding (ICB) tender to engage a TSP for the Mumbai High Field. The selected TSP will provide expertise in managing complex mature reservoirs, implementing advanced recovery technologies, and adopting best operational practices. Through this tender, ONGC invited bids from international operators with a proven track record in similar projects, demonstrating technical expertise and financial strength.The Mumbai High field has an estimated remaining reserve of 80 million tonnes of oil and over 40 billion cubic meters of gas. The field currently produces around 134,000 barrels of oil per day and 10 million standard cubic meters of gas per day.The field reached a peak production level of 471,000 barrels per day in March 1985, but its output had declined to approximately 134,000 bpd by April 2024, according to the tender document issued last year.In India, BP, in partnership with Reliance Industries, operates 1,900 fuel retail stations and produces oil and gas from a deepwater block in the Krishna-Godavari basin off the country’s east coast.
Source link
