London-based BP wins ONGC contract to boost Mumbai High production

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London-based BP wins ONGC contract to boost Mumbai High production - Business Standard

Quick Summary:

However, the tender drew criticism from some ONGC officers and opposition parties, who raised concerns in Parliament about potential privatisation of the oilfield.

The consortium has developed three major deepwater discoveries in the block, expected to produce approximately 30 million standard cubic metres of gas daily at peak production.

ONGC emphasised that the ICB tender sought bids only from international operators with proven technical expertise, financial strength, and a track record in similar projects, with an annual revenue requirement of at least $75 billion.