Oil and Natural Gas Corporation Limited (ONGC) and bp havesigned a contract under which bp will serve as the Technical Services Provider(TSP) for the Mumbai High field, India’s largest and most prolific offshore oilfield. ONGC will retain ownership and operational control of the field.

Under the terms of the contract, bp will receive a fixed feefor a period of two years for its deployed personnel, followed by a service feelinked to incremental oil and gas production. bp will work in closecollaboration with ONGC to stabilize the field’s current production decline andrestore it to a robust growth trajectory.

Leveraging its extensive experience in managing some of theworld’s largest oil fields, bp will optimize oil recovery at Mumbai High byconducting comprehensive reviews of sub-surface models, implementing systemoptimizations, and enhancing reservoir management practices.

bp will assemble a team of technical experts to commencework by March 2025. In support of this initiative, both companies have alreadyestablished a Senior Management Team and a Joint Management Team to ensureseamless project execution.