BP to help ONGC with tech for unlocking 4 basins

NEW DELHI: BP will help state-run ONGC dive deeper for unlocking four untapped basins as part of the government’s thrust on fully exploiting India’s hydrocarbons potential through enhanced exploration.

The two companies on Thursday signed an MoU, wherein BP will chip in with technology for drilling ‘stratigraphic’ wells — or drilling deep in layered formations — in the Andaman, Mahanadi, Saurashtra and Bengal basins.

The government plans to backstop the cost of drilling.

This is the second collaboration between the two companies. BP has a service partnership with ONGC for raising production from the latter’s Mumbai High field.