ONGC RIL and BP Sign New Exploration Deal
New Delhi : BP has confirmed the signing of a new exploration license agreement for block GS-OSHP-2022/2 (Saurashtra Basin) under the OALP IX bidding round, in partnership with ONGC (40%) and Reliance Industries (30%), with bp also holding a 30% stake. A bp spokesperson stated, “This strategic collaboration marks an important step in advancing India’s energy exploration efforts.”
The consortium brings together the combined expertise of ONGC, India’s leading national oil and gas company; Reliance, the country’s largest private conglomerate; and bp, a global energy major. This partnership is expected to play a key role in supporting India’s energy security and self-reliance goals.
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