ONGC, bp sign deal to boost production

Oil and Natural Gas Corp. Ltd (ONGC) and bp have signed a deal under which the British energy firm will serve as the technical services provider (TSP) for the Mumbai High field, India’s largest offshore oil field.

ONGC will maintain ownership and operational control of the Mumbai High field, while bp will provide technical expertise.

“This opportunity further underpins our commitment to exploration and the production of oil and gas in India, creating value for both companies and helping support the country’s vision for energy independence and security,” Kartikeya Dube, head of country and chairman of bp India, said in a statement.

bp has been tasked to enhance oil recovery at Mumbai High. This will involve reviewing sub-surface models, optimizing systems, and improving reservoir management practices.

For this, bp plans to assemble a team of technical experts, and begin the work by March.

Last month, ONGC selected bp to operate and boost production from the Mumbai High. The field was discovered in 1974 and reached its highest production in the 1980s, producing 476,000 barrels of crude oil per day and 28 billion cu. m of natural gas.

However, its production has steadily decreased, and now the field produces around 134,000 barrels of crude oil per day and 13 billion cubic meters of natural gas.