British multinational oil and gas company, BP, has been selected as the technical service provider for enhancement of state-owned Oil and Natural Gas Corp’s Mumbai High oil and gas field providing up to 60% increase in the production over baseline levels.
The upstream major had in June issued an International Competitive Bidding tender to engage a technical services provider for its Mumbai High field in its attempt to reverse output decline from the field. The company had sought partners with expertise in managing complex mature reservoirs and implementing advanced recovery technologies and best operational practices.
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It had invited bids from international operators with proven technical expertise, financial strength, and a track record in similar projects, offering them a share from revenue from the incremental production and a fixed fee.
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“After the bid evaluation process, BP Exploration (Alpha) Ltd, a wholly-owned step-down subsidiary of BP Plc, UK has been selected as the technical service provider,” the company said. BP will now review the field performance and identify improvements in reservoir, facilities and wells to enhance the production from Mumbai High field.
BP has indicated a substantial increase in Oil and Oil Equivalent of Gas production up to 60% from baseline production levels (reputed third-party vetted production estimates with natural decline) over a 10 years contract period, ONGC said.
As per the tender document, ONGC had sought bids from companies with annual revenue of at least $75 billion. Other than BP, Royal Dutch Shell has placed bids for the project.
“We are delighted to have been selected by ONGC as the technical services provider for Mumbai High. We look forward to bringing our long experience of optimising performance and recovery from major mature fields around the world to help unlock and enhance production from Mumbai High, India’s largest oil & gas field (c. 25% of India’s oil production),” said William Lin,
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