ONGC confirmed in September its engagement of BP technical specialists to accelerate Krishna-Godavari basin development. The partnership addresses persistent challenges in India’s most promising offshore region, where complex deepwater reservoirs have frustrated domestic expertise.
Production delays have broader implications for India’s energy security. Domestic crude output declined to 20.7mn tonnes in FY2024 from 25mn tonnes a decade earlier, while natural gas production stagnates despite growing demand. Import bills exceed $175bn annually for crude oil alone.
BP’s involvement brings North Sea and Gulf of Mexico experience to deepwater drilling and reservoir management. The collaboration follows similar arrangements with ExxonMobil and other international majors as ONGC acknowledges limitations in indigenous capabilities for frontier exploration.
Success in the KG basin could establish a template for developing other offshore assets along India’s 7,600km coastline. However, the partnership underscores continuing dependence on foreign technology for advanced oilfield services, highlighting gaps in India’s upstream expertise.