New Delhi, June 26, 2026: India’s Oil and Natural Gas Corporation (ONGC) and global energy company bp have signed a technical services contract aimed at enhancing hydrocarbon production from ONGC’s Western Offshore basin, the company’s largest and most productive oil and gas region.
Under the agreement, bp will serve as the Technical Services Provider (TSP) for the basin, which comprises 43 offshore blocks. While ONGC will retain full ownership and operational control of the assets, bp will work closely with ONGC’s multidisciplinary teams to optimize reservoir performance, improve well productivity, upgrade production infrastructure, and enhance operational efficiency.
The collaboration is expected to slow the natural decline in production, increase hydrocarbon recovery, and support sustained output growth from the basin.
As part of the commercial arrangement, bp will receive a fixed service fee during the first two years. Thereafter, its remuneration will be linked to a share of the revenue generated from incremental hydrocarbon production achieved through the partnership.
The new agreement builds on the success of the first Technical Services Provider (TSP-1) contract signed in February 2025 for Mumbai High. According to the companies, the initial collaboration helped moderate production decline and improve output through enhanced reservoir management, well optimization, and improved field surveillance.
The latest partnership reinforces ONGC’s efforts to maximize recovery from its mature offshore assets while leveraging bp’s global expertise in reservoir and production management.
