ONGC

& BP sign contract to enhance production from Mumbai High

and BP have signed a contract under which bp will serve as the Technical Services Provider (TSP) for the Mumbai High field, India’s largest and most prolific offshore oil field. ONGC will retain ownership and operational control of the field. Under the terms of the contract, BP will receive a fixed fee for a period of two years for its deployed personnel, followed by a service fee linked to incremental oil and gas production. bp will work in close collaboration with ONGC to stabilize the field’s current production decline and restore it to a robust growth trajectory.