BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

(Credit: ONGC)

India’s Oil and Natural Gas Corporation (ONGC), BP Exploration (Alpha), and Reliance Industries (RIL) have signed a joint operating agreement (JOA) to explore offshore Block GS-OSHP-2022/2 in India’s Saurashtra Basin.

The agreement, formalized at ONGC’s headquarters in New Delhi on July 28, 2025, follows the consortium's successful bid for the block under the government’s Open Acreage Licensing Policy (OALP) Bid Round-IX.

The offshore block, located off the western coast in the Saurashtra Basin, covers approximately 5,454 square kilometers in the western offshore region and is classified under India’s Category-II hydrocarbon basins.

ONGC will serve as the operator of the project, leading exploration efforts to assess and unlock the area’s hydrocarbon potential.

“This agreement marks a significant milestone in collaborative energy exploration and reflects the consortium’s shared commitment to advancing India’s energy security and contributing to the nation’s long-term energy goals,” ONGC said.