**ONGC and bp Collaborate on Offshore Stratigraphic Wells in India**
State-run Oil and Natural Gas Corp. Ltd (ONGC) has entered into a memorandum of understanding (MoU) with global energy leader bp to jointly explore drilling stratigraphic wells in four offshore sedimentary basins in India: Andaman, Mahanadi, Saurashtra, and Bengal. This agreement was formalized during the second edition of Urja Varta 2025, a conclave focused on the upstream oil and gas sectors, organized by the Directorate General of Hydrocarbons.
A stratigraphic well is specifically drilled to gather geological data rather than for the extraction of oil or gas. ONGC announced the strategic partnership via a tweet, emphasizing that this collaboration aims to enhance geological understanding and unlock untapped hydrocarbon potential, thereby bolstering India’s long-term energy security.
Kartikeya Dube, head of bp India and senior vice president of the bp group, expressed enthusiasm about reinforcing the existing alliance with ONGC, highlighting the national and strategic importance of this project. He noted that the drilling of new stratigraphic wells could yield valuable insights and opportunities.
Dube also mentioned that bp’s expertise in deep-water exploration, combined with advanced seismic technologies, would significantly aid in the evaluation and drilling processes of these stratigraphic wells.
In a related development, during the ninth round of auctions under the Centre’s Open Acreage Licensing Policy (OALP), ONGC partnered with Reliance Industries Ltd and bp plc for a block in the Saurashtra Basin, marking bp’s entry into India’s upstream exploration and production sector. In this round, ONGC secured a total of 15 blocks, with four in collaboration with other companies and 11 independently.
Earlier this year, ONGC had signed another MoU with bp to collaborate on oil and gas exploration and production, energy trading, and other segments within the energy sector, both domestically and internationally.
As of Thursday, ONGC’s shares on the BSE closed at ₹243.90, reflecting a 0.41% increase from the previous close.
**FAQ**
**What is the significance of the ONGC and bp MoU?**
The MoU between ONGC and bp is significant as it aims to enhance geological understanding and explore untapped hydrocarbon resources in India’s offshore sedimentary basins, contributing to the country’s energy security.