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Informist, Thursday, Jun. 25, 2026

--ONGC, BP in pact to enhance production at fields in Western Offshore Basin 

MUMBAI – Oil and Natural Gas Corp. Ltd. signed a technical services contract with bp to enhance production from fields in the western offshore basin. bp will be the technical service provider for ONGC's western offshore basin, which has 43 blocks.

"It will facilitate the wider deployment of advanced technologies, global technical expertise and best-in-class operating practices across some of India's most important mature hydrocarbon assets," ONGC said in a press release. Under the agreement, bp will help ONGC limit the decline in natutal gas production, improve hydrocarbon recovery and operational efficiency, and support sustained production growth.

bp will receive a fixed fee for the first two years of the agreement. After two years, bp will get a service fee that will be a share in revenue generated from net incremental hydrocarbon production.

At 1507 IST, shares of ONGC were down 2.7% at INR 233.60 on the National Stock Exchange. For the March quarter, the company reported a net profit of INR 66.50 billion on revenue of INR 359.28 billion.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Prateem Rohanekar

Edited by Avishek Dutta

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