Reliance, ONGC, BP Partner for Offshore Exploration in Saurashtra Basin.

Reliance Industries Limited (RIL) has formalized a significant partnership with state-owned Oil and Natural Gas Corporation (ONGC) and BP Exploration (Alpha), signing a joint operating agreement for offshore exploration in the Saurashtra basin. This collaboration focuses on the block “GS-OSHP-2022/2”, located off India's western coast.

The consortium was awarded the block under the government's Hydrocarbon Exploration and Licensing Policy (HELP). Under the terms of this new agreement, the three energy majors will jointly pursue exploration activities within the designated area.

The block spans a substantial 5,454 square kilometers and falls within a Category II basin. This classification indicates that while hydrocarbon discoveries have been made in the region, commercial production has not yet commenced, highlighting the potential for significant new finds. This strategic alliance brings together RIL's deep-sea exploration expertise, ONGC's extensive domestic presence, and BP's global experience, setting the stage for a potentially impactful exploration campaign in the Saurashtra basin.