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Reliance Industries’ JV completes India’s first offshore facilities decommissioning project

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

06 May 2025 Evaluate

In a landmark achievement for India’s energy sector, the Panna-Mukta and Tapti (PMT) joint venture partners - Shell {through BG Exploration & Production India (BGEPIL)}, Reliance Industries (RIL), and Oil and Natural Gas Corporation (ONGC) have successfully completed the country’s first offshore facilities decommissioning project with the safe removal of mid and south Tapti field facilities.

The PMT JV, operator of the Tapti fields under a production sharing contract with the Government of India, comprises of ONGC with a 40% participating interest, and RIL and BG Exploration & Production India (BGEPIL-Shell) with 30% each. The milestone project involved removal of five wellhead platforms, associated infield pipelines, load-in at the onshore dismantling yard and the safe plugging and abandonment of 38 wells- all executed in line with the approved decommissioning plan. Production from the Tapti fields ceased in March 2016, and this project demonstrates a high level of planning, coordination, and compliance with regulatory frameworks while upholding the highest safety and environmental standards.

Aligned with the Government of India’s ‘Make in India’ vision, the PMT JV awarded major contracts to Indian companies Larsen and Toubro (L&T) for offshore execution and Chowgule Shipyard (CLSPL) for onshore dismantling. Offshore operations have now been completed safely, and dismantling is underway at CLSPL’s facilities in Ratnagiri, further strengthening India's domestic capabilities in offshore and onshore energy infrastructure. The Tapti decommissioning project also played a pioneering role in shaping India’s regulatory and operational framework for offshore decommissioning. Developed collaboratively with key Stakeholders -including the Union Ministry of Petroleum and Natural Gas (MoPNG), Directorate General of Hydrocarbons (DGH), and Oil Industry Safety Directorate (OISD), the project sets a benchmark for future offshore energy transitions, rooted in global best practices and adapted for Indian conditions.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Reliance Industries Share Price

1365.10 21.65 (1.61%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1365.10
Indian Oil Corp.	145.85
BPCL	312.05
HPCL	370.95
MRPL	183.20
View more..

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Reliance Industries’ JV completes India’s first offshore facilities decommissioning project

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