Reliance Industries Limited has informed the Exchange regarding a media release, titled 'Shell, Reliance, and ONGC set benchmark with India s first offshore facilities decommissioning project'.
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Reliance Industries, along with Shell (through BGEPIL) and ONGC, has successfully completed India's first offshore decommissioning project at the mid and south Tapti field facilities under the Panna-Mukta and Tapti (PMT) joint venture. The project involved removing 5 wellhead platforms, associated infield pipelines, and the safe plugging and abandonment of 38 wells. Production from the Tapti fields had already ceased in March 2016. Major contracts were awarded to Indian firms Larsen & Toubro (offshore execution) and Chowgule Shipyard (onshore dismantling), aligning with the 'Make in India' initiative. The project was developed in coordination with the Ministry of Petroleum and Natural Gas, DGH, and OISD, setting a regulatory and operational benchmark for future offshore decommissioning in India.
This is a media release with no direct material financial impact since the Tapti fields stopped producing nearly a decade ago. For shareholders, it reinforces Reliance's operational credentials in responsible energy practices, ESG commitment, and ability to collaborate with global and domestic partners, though it is unlikely to move the stock price.