ONGC and BP Join Forces for Enhanced Mumbai High Oil Production

The Oil and Natural Gas Corporation (ONGC), in partnership with the UK's BP, forecasts a $10.3 billion hike in revenue through increased oil and gas production at Mumbai High field. By leveraging BP's expertise, ONGC aims to counteract declining output from this critical national resource.

The Oil and Natural Gas Corporation (ONGC) has announced a significant partnership with BP aimed at substantially boosting oil and gas production from the Mumbai High field.

BP, through its subsidiary BP Exploration (Alpha) Ltd, will act as the technical service provider, with potential increases in crude oil and gas production projected at 44% and 89% respectively.

This collaboration is expected to enhance ONGC's revenue by up to USD 10.3 billion, with a full boost anticipated by the fiscal year 2028, thereby playing a crucial role in India's energy landscape.

(With inputs from agencies.)