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ONGC development

  • nvshah0610
  • Jul 29
  • 2 min read
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ONGC Signs Landmark Offshore Energy Pact with BP and Reliance

On July 28, 2025, Oil and Natural Gas Corporation (ONGC) formalized a Joint Operating Agreement (JOA) with BP Exploration (Alpha) Ltd and Reliance Industries Limited (RIL) for exploration in the GS-OSHP-2022/2 offshore block located in the Saurashtra Basin off India’s west coast. This collaboration marks a significant step under the ninth bid round of the Open Acreage Licensing Policy (OALP-IX) aimed at accelerating offshore hydrocarbon exploration. The block spans approximately 5,454 square kilometers and is classified as a Category-II basin.

Strategic Alliance to Enhance India’s Energy Security

The partnership brings together three major energy players to pool resources, expertise, and technology in a joint effort to unlock India's offshore hydrocarbon potential. ONGC will serve as the operator of this project. The agreement represents a shared commitment to boosting India’s energy self-reliance by tapping unexplored offshore reserves, thus contributing to the nation’s long-term energy goals.

High-Level Leadership Presence Underlines Importance

The signing ceremony was held at ONGC’s Deendayal Urja Bhavan in New Delhi, attended by senior executives from all three companies including ONGC Directors Arunagshu Roy (Strategy & Corporate Affairs) and O.P. Sinha (Exploration), BP’s Director of Finance Manoj Kumar, and Reliance’s Senior Vice President Avinash Kumar Pathak. Their presence highlighted the strategic and operational significance of this collaboration.

ONGC’s Ongoing Collaborations with BP for Enhanced Exploration

Earlier in July 2025, ONGC also signed a strategic Memorandum of Understanding (MoU) with BP to jointly drill stratigraphic wells across several offshore sedimentary basins including Andaman, Mahanadi, Saurashtra, and Bengal. This partnership aims to deepen geological understanding and explore untapped hydrocarbon potential using BP’s advanced deepwater exploration technology.

ONGC’s Role in India’s Energy Future

As India’s largest crude oil and natural gas producer, ONGC contributes around 71% of domestic production. This latest offshore pact and ongoing collaborations with global energy majors underscore ONGC's leadership in driving exploration to secure India’s energy availability and sustainability.

If you want, I can prepare a more detailed article draft or focus on any specific aspect like the technical details of the exploration block or partnership strategic implications.

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