ONGC and bp sign Technical Services Contract for Western Offshore fields
ONGC · price
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ONGC and bp signed a Technical Services Contract on 25 June 2026, appointing bp as Technical Services Provider for ONGC's Western Offshore Basin fields (43 blocks, ONGC's most prolific producing basin). bp receives a fixed fee for two years, then a service fee linked to revenue from incremental hydrocarbon production. ONGC retains full ownership and operational control. This expands the February 2025 Mumbai High partnership, which delivered production growth in its first year.
Expanded bp partnership may help lift output from mature Western Offshore fields. No change in ownership, equity dilution, or operational control for ONGC.