ONGC seeks global know-how for its oil field

The service provider will be chosen through the ongoing ICB process, with bids due by September 15, 2024.
The ICB is open to all international oil and gas majors with an annual revenue exceeding $75 billion.
The ICB is open to all international oil and gas majors with an annual revenue exceeding $75 billion. Photo | ANI

NEW DELHI: Oil and Natural Gas Corporation (ONGC) is seeking a proven international technical service provider to boost production from its maturing Mumbai High field in the Arabian Sea.

The company launched an international competitive bidding (ICB) process on June 1, 2024, to identify the service provider. The ICB is open to all international oil and gas majors with an annual revenue exceeding $75 billion.

“As a custodian and operator of Mumbai High Field, ONGC is keen to collaborate with a global ‘Technical Service Provider’. The service provider would be contracted for ten years, extendable by another five years,” said the company in a social media post.

The service provider will be chosen through the ongoing ICB process, with bids due by September 15, 2024. Mumbai High, a giant multi-layered field, began production in 1976 and is currently in its mature stage. ONGC has implemented various initiatives to enhance production over the years.

“Mumbai High is one of the prime assets of ONGC and significant upside is still to be unlocked here if ONGC applies best-in-class reservoir management technologies and adopt globally-best operational and management practices,” said the company.

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