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BP PLC on Thursday said it has signed a technical services contract with India’s Oil & Natural Gas Corp Ltd to help enhance production from fields in the country’s Western Offshore Basin. The London-based energy major said the agreement expands its existing collaboration with ONGC beyond the Mumbai High field to the broader Western Offshore Basin, India’s largest hydrocarbon-producing basin. The basin comprises 43 blocks and accounts for a significant portion of India’s domestic oil and gas production. ONGC, owned by the Indian government and administrated by the Ministry of Petroleum & Natural Gas, produces around 64% of the country’s crude oil and natural gas. Under the agreement, BP will act as technical services provider while ONGC retains full ownership and operational control of the assets. The contract builds on a technical services agreement signed by the two companies in February 2025 covering Mumbai High. Under the new agreement, BP will receive a fixed fee for the first two years, followed by a service fee linked to a share of revenue generated from incremental hydrocarbon production. The companies did not disclose any further financial terms of the contract. ONGC Chair & Chief Executive Officer Arun Kumar Singh said: ‘Building on the encouraging outcomes at Mumbai High, this expanded collaboration will support improved recovery, greater efficiency and sustained production growth.’ BP India Chair Kartikeya Dube said: ‘We look forward to bringing BP’s global expertise to support enhanced production from the Western Offshore Basin and strengthen India’s energy security.’ Shares in BP closed down 1.0% at 476.05 pence in London on Thursday. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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