UK-based global energy company BP has won the contract to operate and increase the oil and gas production from ONGC flagship Mumbai High.

Jan 8, 2024

UK-based global energy company BP has won the contract to operate and increase production from Oil and Natural Gas Corporation’s (ONGC) flagship Mumbai High oil and gas field which has been witnessing a gradual fall in output for over three decades.

The Mumbai High field lies in Mumbai’s offshore basin in the Arabian Sea. The field’s current production levels are around 134,000 bpd of crude and 13 bcm of natural gas. The output was expected for further decline substantially over the next 10-15 years. This has led to the Indian oil and gas major looking for a solution to increase its production.

In June, the state-owned ONGC had sought bids from international oil and gas players to increase production from the field.

BP and Royal Dutch Shell were the only international players that participated in the tender, which offered the foreign partner a share in revenue from the hydrocarbon production and a fixed fee, but no stake in the field.

According to ONGC, BP has indicated an increase of up to 60 per cent in oil and oil equivalent gas from the field’s baseline production levels over the 10-year contract period.

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 The contract’s financial details have not yet been divulged.