Oil and NaturalGas Corporation Limited (ONGC) and bp have signed a contract under which bpwill serve as the Technical Services Provider (TSP) for the Mumbai High field,India’s largest and most prolific offshore oil field. ONGC will retainownership and operational control of the field.

Under the termsof the contract, bp will receive a fixed fee for a period of two years for itsdeployed personnel, followed by a service fee linked to incremental oil and gasproduction. bp will work in close collaboration with ONGC to stabilize thefield’s current production decline and restore it to a robust growthtrajectory.

Leveraging itsextensive experience in managing some of the world’s largest oil fields, bpwill optimize oil recovery at Mumbai High by conducting comprehensive reviewsof sub-surface models, implementing system optimizations, and enhancingreservoir management practices.

bp will assemblea team of technical experts to commence work by March 2025. In support of thisinitiative, both companies have already established a Senior Management Teamand a Joint Management Team to ensure seamless project execution.