Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corp (ONGC) has agreed to take over a part of the abandoned assets of the western offshore Tapti gas field from its joint venture partners Reliance Industries and BG once output falls to zero.

The company will take over Tapti Part A facilities in accordance with Tapti Production Sharing Contract (PSC) along with abandonment obligation. The other part will be abandoned. Joint venture will be responsible for abandonment obligation for the Tapti Part B facilities.

Further, the company is planning to use the Tapti field assets, which include sub-sea pipelines and gas gathering stations as well as process platform, to advance production of gas from its neighbouring Daman field.

 ONGC is an Indian multinational oil and gas company headquartered in Dehradun, India. It is India’s largest oil and gas exploration and production company. It produces around 69% of India's crude oil (equivalent to around 30% of the country's total demand) and around 62% of its natural gas.