business / news / / The Economic Times
State-run Oil and Natural Gas Corporation (ONGC) has once again picked BP to help boost production from some of its largest fields.
BP will now manage ONGC fields accounting for 72% of its gas and 60% of its oil output.
KEY POINTS
- BP has been selected as technical services provider for ONGC's Western Offshore fields after open bidding.
- The new arrangement expands BP's influence in India beyond its previous role with Reliance Industries.
- ONGC projects a 10.8% rise in oil and 31.5% rise in gas over the 10-year BP contract.
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