Why did ONGC choose to partner with BP and Reliance for Saurashtra Basin!

ONGC chose to partner with BP and Reliance for the Saurashtra Basin offshore block primarily to leverage the complementary strengths of each company and accelerate exploration efforts to unlock the hydrocarbon potential of the region. Key reasons include:

• Expertise in Deepwater Exploration: BP brings advanced experience and technology specifically in deepwater exploration and drilling stratigraphic wells, which is valuable for detailed geological understanding and evaluation of offshore basins like Saurashtra. Their experience supports improved well design and location decisions.

• Strategic Investment and Collaboration: Reliance, as a major private Indian energy player, adds significant investment capability and local market knowledge. The partnership with Reliance aligns with government policy encouraging public-private collaboration to boost domestic hydrocarbon exploration and reduce dependence on imports.

• Synergy and Complementary Roles: The consortium combines ONGC’s dominant operational capability and local experience (ONGC is the operator with a 40% stake), BP’s global technical expertise (30% stake), and Reliance’s industrial strength and investment (30% stake), creating a robust platform for exploration success.

• Government Policy Alignment: This partnership fits within India’s Open Acreage Licensing Policy (OALP) framework aimed at enhancing energy security through exploration by integrating global technology and private sector investment.

• Long-term Energy Security Objective: Together, the alliance aims to accelerate discovery and development of domestic hydrocarbon resources, which is crucial for India’s energy self-reliance goals.

Thus, ONGC’s choice of BP and Reliance as partners for the Saurashtra Basin block stems from their complementary exploration expertise, capacity to invest, and alignment with India’s strategic push for energy security and public-private partnerships.

This was formalized through a joint operating agreement signed in July 2025 for Block GS-OSHP-2022/2, covering 5,454 sq km offshore in the Saurashtra Basin under the OALP bid round.