BP Bags Bid For ONGC’s Giant Mumbai High Oil Field

New Delhi: UK’s BP Plc won a bid for ONGC’s giant Mumbai High oil and gas field, offering to raise crude oil production by 44 per cent and natural gas by a staggering 89 per cent over a 10-year period, potentially changing the fortunes of the vintage field.

Oil and Natural Gas Corporation (ONGC) in a stock exchange filing said it has selected BP Exploration (Alpha) Ltd, a wholly-owned step-down subsidiary of BP Plc, as the Technical Service Provider (TSP) for raising production in the field.