State operated oil and natural gas Corp. LTD (ONGC) expects great recovery in the production of oil from high field bombaj over the next 13-14 months because it works with the BP energy giant on the basis of the British BP to make an oil improvement (EOR)
ARUN KUMAR SINGH, Chairman and CEO (CEO) ONGC, told reporters on Friday that a study for the planned EOR is currently underway.
“It was only four months. This partnership began in April (2025). One thing you can say is that green shoots are good. I can only say it’s good. We’re very optimistic. Small winnings come in 7-8 months, but big wins take about a year and a half.
This year, ONGC and BP signed a contract according to which BP will serve as a technical service provider (TSP) for Mumbai High Field, the largest Indian oil field at sea.
According to the conditions of partnership, ONGC retains ownership and operational inspection in the field. BP will receive a fix fee for its deployed staff for two years, followed by a service fee associated with incremental oil and gas production.
Energy giant based in the UK would work in close cooperation with ONGC to stabilize the current decrease in field production and restore it to the robust growth trajectory.
Pankaj Kumar, director of Ongc (Offshore), said: “We are still in study mode. Otherwise, the Bombai high field is a huge field. They study data. We have identified the internal team that works with them (BP). Preliminary indications are good.”
The CEO in the worldwide acquisition of assets in the middle of geopolitical uncertainty said that its subsidiary OngC Videsh LTD is open to obtaining assets anywhere in the world if it seems commercially advantageous.
“Normally problem times don’t last for more than a year or two, because the world has no ability to tolerate them for a long time. If the asset comes at a price that is acceptable to us, with the future we see for ourselves, and at a reasonable price we think we should do it.
(tagstotranslate) ongc videsh ltd
