Oil and Natural Gas Corporation (ONGC) in partnership with BP Exploration (Alpha) and Reliance Industries (RIL), has formally signed a Joint Operating Agreement (JOA) for offshore exploration of Block GS-OSHP-2022/2, awarded under the Open Acreage Licensing Policy (OALP) Bid Round-IX.
The block, located off the western coast in the Saurashtra Basin, spans an area of approximately 5,454 square kilometres and is classified under Category-II basins. The consortium, with ONGC designated as the Operator, is set to undertake exploratory activities aimed at assessing and harnessing the hydrocarbon potential of the region. 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 is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
