BP Sets the Stage for Transformation at Mumbai High

BP Plc has secured a bid to boost crude oil and natural gas production at ONGC's Mumbai High field. This agreement aims to increase oil production by 44% and gas by 89% over a decade, substantially changing output at India's major oil and gas field.

BP Plc has emerged as the frontrunner in enhancing production at the Mumbai High oil field, operated by ONGC. The British energy giant plans to elevate crude oil production by 44% and natural gas by a remarkable 89% within a decade.

This substantial increase aims to reverse the declining output of India's most prolific oil field, which is crucial for the country's energy needs. ONGC selected BP as the Technical Service Provider through a competitive bidding process after seeking international partners.

The collaboration is expected to transform Mumbai High's fortunes, particularly beneficial for a nation that relies heavily on imports to meet its energy demands. BP has pledged to start showing results within two years while aiming for initial outcomes in six months.

(With inputs from agencies.)