Oil and Natural Gas Corporation Limited (ONGC) has announced a significant partnership aimed at revitalizing production from its Mumbai High Field, a critical offshore oil-producing asset. ONGC has engaged BP Exploration (Alpha) Ltd., a subsidiary of BP Plc, as the Technical Services Provider (TSP) through an International Competitive Bidding (ICB) process. This collaboration seeks to leverage advanced recovery technologies and best operational practices to enhance domestic production.
Detailed Highlights:
- Mumbai High Field Overview:
- Discovered in 1974 and operational since 1976, Mumbai High Field is one of ONGC’s flagship assets.
- Despite being a mature field, it continues to hold significant potential for hydrocarbon recovery.
- Competitive Selection Process:
- ONGC launched an ICB tender in June 2024, targeting global operators with proven technical expertise and financial strength.
- After a rigorous evaluation, BP Exploration (Alpha) Ltd. emerged as the chosen partner.
- Scope of Engagement:
- The TSP will conduct a comprehensive review of reservoir performance, facilities, and wells.
- The focus will be on implementing advanced technologies to maximize recovery and efficiency.
- Expected Impact:
- The collaboration is projected to enhance oil and oil-equivalent gas (O+OEG) production by up to 60% from baseline levels over the 10-year contract period.
- The estimates have been vetted by reputed third-party evaluations.
TOPICS:
ONGC