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ONGC has selected BP Exploration Services India (BPXS), a wholly-owned step-down subsidiary of BP, as the technical services provider (TSP) The TSP will review the field performance and identify improvements in reservoir, facilities and wells to enhance production.
ONGC has selected BPXS as technical service provider for all western offshore fields except Mumbai High.
KEY POINTS
- BPXS projects a 10.8% oil and 31.5% gas production increase over 10 years for ONGC.
- Production gains are expected to become noticeable from FY27, with full impact by FY30.
- The BPXS contract uses a fixed fee for two years, then revenue-linked service fees for incremental production.
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