Oil and Natural Gas Corporation Limited (ONGC) and bp have signed a contract under which bp will serve as the Technical Services Provider (TSP) for the Mumbai High field, India’s largest and most prolific offshore oil field.
ONGC will retain ownership and operational control of the field. Under the terms of the contract, bp will receive a fixed fee for a period of two years for its deployed personnel, followed by a service fee linked to incremental oil and gas production. bp will work in close collaboration with ONGC to stabilize the field’s current production decline and restore it to a robust growth trajectory.
Leveraging its extensive experience in managing some of the world’s largest oil fields, bp will optimize oil recovery at Mumbai High by conducting comprehensive reviews of sub-surface models, implementing system optimizations, and enhancing reservoir management practices. This partnership is anticipated to significantly boost domestic oil and gas production, thereby increasing revenue for ONGC and benefiting the people of India, while also yielding higher service fee returns for bp.
bp will assemble a team of technical experts to commence work by March 2025. In support of this initiative, both companies have already established a Senior Management Team and a Joint Management Team to ensure seamless project execution.
Honourable Minister of Petroleum and Natural Gas (MoPNG) Shri Hardeep Puri, in whose office the signing took place, said: “India’s quest towards energy self-sufficiency under the dynamic leadership of Hon’ble PM Narendra Modi Ji gets a massive boost as ONGC onboards its energy partner bp as Technical Service Provider for the Mumbai High Field, landmark field which has been providing energy security to us since 1974. While ONGC continues to retain the ownership of the field, this unique technology collaboration with BP’s expertise in managing complex mature reservoirs and implementing advanced recovery technologies and best operational practices will help in enhancing the production from this iconic field.”
Reflecting on the strategic importance of the collaboration, Secretary, Ministry of Petroleum and Natural Gas, Government of India, Shri Pankaj Jain, said: “This strategic engagement represents a critical step in leveraging global best practices and cutting-edge technologies to optimize production at Mumbai High. I am confident that through this collaboration, we will reinforce our commitment to energy self-reliance and sustainable growth, ensuring a brighter future for India’s energy landscape.”
Shri Arun Kumar Singh, Chairman and CEO, ONGC, said “By engaging a TSP, ONGC aims to realize the enhanced potential of the Mumbai High field by leveraging cutting-edge technologies and global best practices, securing its future contribution to India's energy landscape.”
Kartikeya Dube, Head of country and Chairman bp India said, “We are extremely proud and privileged to be selected as a partner by ONGC and look forward to bringing our international experience and technical expertise to the Mumbai High field. This opportunity further underpins our commitment to exploration and the production of oil and gas in India, creating value for both companies and helping support the country’s vision for energy independence and security.”
Thursday, 13 March 2025
bp and Iraq reach final agreement for redevelopment in Kirkuk
bp today reached agreement on all contractual terms with the Government of the Republic of Iraq to invest in several giant oil fields in Kirkuk providing for the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration. The agreement is subject to final governmental ratification.
Execution of the agreement will follow upon endorsement by the Council of Ministers, after which bp will work closely under the guidance of the Government of Iraq in setting up the new operator, which will be an unincorporated organization comprising predominantly personnel from the North Oil Company (NOC) and North Gas Company (NGC), but also with secondees from bp. The new operating organization will take over operations at Kirkuk from NOC. Subsequent to this agreement, bp expects to form a standalone incorporated joint venture to hold its interests in the operator.
The agreement follows a memorandum of understanding between bp and Iraq signed in July 2024 – of which technical terms were agreed in December and the majority of commercial terms agreed in January – together with previous work bp has done on the fields in Kirkuk from 2013 to 2019.
The agreement is for an initial phase and includes oil and gas production of more than three billion barrels of oil equivalent. It includes the Baba and Avanah domes of the Kirkuk oil field and three adjacent fields – Bai Hassan, Jambur and Khabbaz – in Federal Iraq, all of which are currently operated by the NOC.
The wider resource opportunity across the contract and surrounding area is believed to include up to 20 billion barrels of oil equivalent.
bp executive vice president William Lin said: “This agreement builds on our longstanding and strategic relationship with the Government of Iraq and delivers access to a material new resource opportunity, within one of the world’s most prolific hydrocarbon provinces. It will enable us to bring our experience of managing giant fields to realise the potential of this important asset for Iraq, working alongside and in close partnership with NOC and NGC. This opportunity is fully in line with our priority of pursuing new growth opportunities for bp as we strengthen and high-grade our portfolio across the world. We thank the Government of Iraq for the trust and privilege to deepen our cooperation in-country.”
Under the terms of the agreement, bp will work with NOC, NGC and the new operator to stabilize and grow production. Work will include a drilling programme, the rehabilitation of existing wells and facilities, and the construction of new infrastructure, including gas expansion projects.
Under the agreement, bp’s remuneration will be linked to incremental production volumes, price and costs. bp will be able to book a share of production and reserves proportionate to the fees it earns for helping to increase production.
Investment in the project has the potential to bring opportunity and economic growth into the Kirkuk region – creating tangible benefits for the local population, improving supply chain capability alongside job creation.
The project is fully accommodated within bp’s disciplined financial framework and exceeds bp’s investment returns hurdles. bp expects the project to commence in 2025.
Execution of the agreement will follow upon endorsement by the Council of Ministers, after which bp will work closely under the guidance of the Government of Iraq in setting up the new operator, which will be an unincorporated organization comprising predominantly personnel from the North Oil Company (NOC) and North Gas Company (NGC), but also with secondees from bp. The new operating organization will take over operations at Kirkuk from NOC. Subsequent to this agreement, bp expects to form a standalone incorporated joint venture to hold its interests in the operator.
The agreement follows a memorandum of understanding between bp and Iraq signed in July 2024 – of which technical terms were agreed in December and the majority of commercial terms agreed in January – together with previous work bp has done on the fields in Kirkuk from 2013 to 2019.
The agreement is for an initial phase and includes oil and gas production of more than three billion barrels of oil equivalent. It includes the Baba and Avanah domes of the Kirkuk oil field and three adjacent fields – Bai Hassan, Jambur and Khabbaz – in Federal Iraq, all of which are currently operated by the NOC.
The wider resource opportunity across the contract and surrounding area is believed to include up to 20 billion barrels of oil equivalent.
bp executive vice president William Lin said: “This agreement builds on our longstanding and strategic relationship with the Government of Iraq and delivers access to a material new resource opportunity, within one of the world’s most prolific hydrocarbon provinces. It will enable us to bring our experience of managing giant fields to realise the potential of this important asset for Iraq, working alongside and in close partnership with NOC and NGC. This opportunity is fully in line with our priority of pursuing new growth opportunities for bp as we strengthen and high-grade our portfolio across the world. We thank the Government of Iraq for the trust and privilege to deepen our cooperation in-country.”
Under the terms of the agreement, bp will work with NOC, NGC and the new operator to stabilize and grow production. Work will include a drilling programme, the rehabilitation of existing wells and facilities, and the construction of new infrastructure, including gas expansion projects.
Under the agreement, bp’s remuneration will be linked to incremental production volumes, price and costs. bp will be able to book a share of production and reserves proportionate to the fees it earns for helping to increase production.
Investment in the project has the potential to bring opportunity and economic growth into the Kirkuk region – creating tangible benefits for the local population, improving supply chain capability alongside job creation.
The project is fully accommodated within bp’s disciplined financial framework and exceeds bp’s investment returns hurdles. bp expects the project to commence in 2025.
bp successfully completes drilling at El Fayoum-5 Gas Well in North Alexandria Offshore Concession
bp has announced the successful completion of drilling operations at the El Fayoum-5 gas discovery well in the North Alexandria Offshore Concession, marking the final well in its four-slot drilling campaign in the West Nile Delta.
Drilled using the Valaris DS-12 rig, El Fayoum-5 was spudded on February 14, 2025, and encountered four prospective Messinian gas reservoirs, with a total sand thickness of 50 meters at a measured depth of approximately 2,900 meters.
Plans are underway to tie back the discovery to bp’s operated West Nile Delta (WND) Gas Development. This marks bp’s second consecutive gas discovery in recent months, following the successful El King-2 well in the North King Mariout Offshore Concession.
William Lin, EVP gas & low carbon, commented: "This reinforces bp’s commitment to Egypt and its growing energy needs. With Raven Infills Phase 2 already contributing to production, we’re now fast-tracking the El King and Fayoum discoveries to tie into our West Nile Delta infrastructure. The delivery of Raven Infills is fully in line with our priority to grow the upstream and high grade our portfolio across the world.”
The WND Gas Development consists of a series of gas condensate fields located offshore Egypt, within the North Alexandria and West Mediterranean Deepwater concessions. The Raven field, the final phase of the WND project, has been in production since early 2021. Its initial phase included the development of eight subsea wells, located up to 65 km offshore, at water depths ranging from 550 to 700 meters. bp, the project operator, holds an 82.75% stake, while Harbour Energy owns the remaining 17.25%.
Drilled using the Valaris DS-12 rig, El Fayoum-5 was spudded on February 14, 2025, and encountered four prospective Messinian gas reservoirs, with a total sand thickness of 50 meters at a measured depth of approximately 2,900 meters.
Plans are underway to tie back the discovery to bp’s operated West Nile Delta (WND) Gas Development. This marks bp’s second consecutive gas discovery in recent months, following the successful El King-2 well in the North King Mariout Offshore Concession.
William Lin, EVP gas & low carbon, commented: "This reinforces bp’s commitment to Egypt and its growing energy needs. With Raven Infills Phase 2 already contributing to production, we’re now fast-tracking the El King and Fayoum discoveries to tie into our West Nile Delta infrastructure. The delivery of Raven Infills is fully in line with our priority to grow the upstream and high grade our portfolio across the world.”
The WND Gas Development consists of a series of gas condensate fields located offshore Egypt, within the North Alexandria and West Mediterranean Deepwater concessions. The Raven field, the final phase of the WND project, has been in production since early 2021. Its initial phase included the development of eight subsea wells, located up to 65 km offshore, at water depths ranging from 550 to 700 meters. bp, the project operator, holds an 82.75% stake, while Harbour Energy owns the remaining 17.25%.
INEOS Energy start-up of compression for Breagh field
10th Oct 2024
INEOS Energy today announced the start-up of the electric-driven compressor at the Teesside Gas Processing Plant, which will significantly boost gas flows from the INEOS Operated Breagh Gas Field. The new compressor represents a significant investment that will secure domestic gas supplies for UK homes and industry for years to come, helping to stabilise prices. Electric driven compressors have a lower carbon footprint than the gas alternative, which means that Breagh will remain one of the lowest carbon intensity gas fields in the UK.
INEOS Energy CEO David Bucknall said: “We are delighted to see the electric compressor coming on stream at a critical time for UK gas demand. The project taps into precious North Sea gas reserves with a low carbon intensity and is the kind of investment that is crucial to the energy transition and affordable energy security for the UK.”
The Breagh gas field is operated by INEOS Energy. It is located in the Southern North Sea and was awarded development consent in 2011. It consists of a 12-slot minimum facilities wellhead platform with 11 production wells, a 100km wet gas export pipeline to the beach and a further 11km of onshore pipeline to the Teesside Gas Processing Plant - owned by North Sea Midstream Partners (NSMP) - for processing and delivery of gas into the NTS. The field is a normally unattended installation and has one of the lowest carbon intensities of gas fields in the UK.
INEOS Energy today announced the start-up of the electric-driven compressor at the Teesside Gas Processing Plant, which will significantly boost gas flows from the INEOS Operated Breagh Gas Field. The new compressor represents a significant investment that will secure domestic gas supplies for UK homes and industry for years to come, helping to stabilise prices. Electric driven compressors have a lower carbon footprint than the gas alternative, which means that Breagh will remain one of the lowest carbon intensity gas fields in the UK.
INEOS Energy CEO David Bucknall said: “We are delighted to see the electric compressor coming on stream at a critical time for UK gas demand. The project taps into precious North Sea gas reserves with a low carbon intensity and is the kind of investment that is crucial to the energy transition and affordable energy security for the UK.”
The Breagh gas field is operated by INEOS Energy. It is located in the Southern North Sea and was awarded development consent in 2011. It consists of a 12-slot minimum facilities wellhead platform with 11 production wells, a 100km wet gas export pipeline to the beach and a further 11km of onshore pipeline to the Teesside Gas Processing Plant - owned by North Sea Midstream Partners (NSMP) - for processing and delivery of gas into the NTS. The field is a normally unattended installation and has one of the lowest carbon intensities of gas fields in the UK.
Subsea7 awarded contract offshore Norway
Subsea7 today announced the award of a contract by Equinor for a front-end engineering and design (FEED) study with EPCI1 option for the Fram Sør development project, offshore Norway.
The study will finalise the technical definition of the proposed subsea development prior to Equinor and its partners making the final investment decision. Work will begin immediately in our offices in Norway and UK.
If the EPCI option is exercised, any resulting subsea structures, umbilicals, risers and flowlines (SURF) installation scope would be a direct, substantial2 award to Subsea7. Offshore installation activities associated with this contract would be scheduled for 2026, 2027 and 2028.
The Fram Sør area is located 10-30 kilometres north of the Equinor-operated Troll C platform, approximately 70 kilometres north-west of Bergen. The development will be connected to the existing Fram and Troll C infrastructure.
Erik Femsteinevik, Vice President for Subsea 7 Norway said: “This award continues our long-standing collaboration with Equinor. The study enables Subsea7 to engage early in the field development process, optimising design solutions and contributing to the final investment decision. We look forward to working closely with Equinor to unlock the value in Fram Sør”.
The study will finalise the technical definition of the proposed subsea development prior to Equinor and its partners making the final investment decision. Work will begin immediately in our offices in Norway and UK.
If the EPCI option is exercised, any resulting subsea structures, umbilicals, risers and flowlines (SURF) installation scope would be a direct, substantial2 award to Subsea7. Offshore installation activities associated with this contract would be scheduled for 2026, 2027 and 2028.
The Fram Sør area is located 10-30 kilometres north of the Equinor-operated Troll C platform, approximately 70 kilometres north-west of Bergen. The development will be connected to the existing Fram and Troll C infrastructure.
Erik Femsteinevik, Vice President for Subsea 7 Norway said: “This award continues our long-standing collaboration with Equinor. The study enables Subsea7 to engage early in the field development process, optimising design solutions and contributing to the final investment decision. We look forward to working closely with Equinor to unlock the value in Fram Sør”.
Shell to grow working interest in the Ursa platform in Gulf of America
Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell plc (Shell), have signed an agreement to increase their stake in the Ursa platform in the Gulf of America.
This will increase Shell’s working interest (WI) in its operated Ursa platform, pipeline, and associated fields from 45.3884% to a maximum of 61.35%, following an agreement to acquire 15.96% WI from ConocoPhillips Company (COP).
“This targeted investment is the latest example of how we are unlocking more value from our existing advantaged Upstream assets and infrastructure,” said Zoë Yujnovich, Shell’s Integrated Gas & Upstream Director. “The acquisition expands our ownership in an established long-producing asset that generates robust free cash flow, while also providing more options for growth.”
The Gulf of America production has among the lowest greenhouse gas intensity in the world. Increasing our working interest in Ursa demonstrates our continued focus on providing secure supplies of domestic energy and pursuing the highest margin and most energy-efficient Upstream investments.
This deal is subject to regulatory clearance, preferential rights election and closing conditions. The deal is expected to be completed by end Q2 2025.
Notes to editors
This will increase Shell’s working interest (WI) in its operated Ursa platform, pipeline, and associated fields from 45.3884% to a maximum of 61.35%, following an agreement to acquire 15.96% WI from ConocoPhillips Company (COP).
“This targeted investment is the latest example of how we are unlocking more value from our existing advantaged Upstream assets and infrastructure,” said Zoë Yujnovich, Shell’s Integrated Gas & Upstream Director. “The acquisition expands our ownership in an established long-producing asset that generates robust free cash flow, while also providing more options for growth.”
The Gulf of America production has among the lowest greenhouse gas intensity in the world. Increasing our working interest in Ursa demonstrates our continued focus on providing secure supplies of domestic energy and pursuing the highest margin and most energy-efficient Upstream investments.
This deal is subject to regulatory clearance, preferential rights election and closing conditions. The deal is expected to be completed by end Q2 2025.
Notes to editors
- Shell is the operator of Ursa Tension-Leg Platform (TLP) and currently holds a 45.3884% working interest (WI) ownership in the asset with BP Exploration & Production Inc. (22.6916% WI), ECP GOM III, LLC (15.96%) and ConocoPhillips Company (COP) (15.96% WI).
- COP’s 15.96% membership interest in the Shell-operated Ursa Oil Pipeline Company LLC, which will be held by Shell Pipeline Company.
- COP’s 1% WI in the Europa prospect (also operated by Shell).
- COP’s 3.5% Overriding Royalty Interest (ORRI) in Ursa. This royalty interest was acquired by COP through the Marathon Oil Corporation merger, which was completed in November 2024.
- Reference to an increase in WI to a maximum of 61.35% is subject to preferential rights election by other WI partners.
- The Ursa TLP, which began production in 1999, is located approximately 130 miles (209 kilometres) southeast of New Orleans within the Mars Basin, one of the most prolific hydrocarbon basins in the world.
- The Ursa/Princess field is well established, having produced more than 800 million barrels of oil equivalent total gross over ~25 years, providing Shell with reliable production and growth opportunities.
- Shell US is the leading deep-water operator and one of the largest leaseholders in the Gulf of America (GoA), focused on opportunities close to our existing assets in the most prolific corridors.
- The reference to our GoA production having among the lowest greenhouse gas intensity in the world is a comparison among other members of the International Association of Oil & Gas Producers.
Fluor-Led JV Supports Successful Completion and Startup of Major Project at Tengiz Oil Field in Kazakhstan
Fluor Corporation (NYSE: FLR) is pleased to announce that it successfully led a joint venture that supported the completion and startup of Tengizchevroil’s (TCO) Future Growth Project (FGP) at the Tengiz oil field in Kazakhstan. The Fluor-led joint venture, including partners Worley, Kazakh Institute of Oil and Gas, and KazGiproNefteTrans Engineering Company, has provided a suite of engineering, procurement, construction, operations and maintenance services for TCO since 2011.
“Achieving first oil is a significant accomplishment and we congratulate the TCO team,” said Mike Alexander, President of Fluor’s Energy Solutions business. “Fluor has supported TCO for the past 14 years and has been active in the Republic of Kazakhstan since 1982, working on projects that have helped shape the oil and gas industry.”
As part of the FGP, a new Third-Generation Plan (3GP) was built at the Tengiz oil field, which was discovered in 1979 and ranks as one of the world’s largest and deepest fields. This project milestone marks the beginning of a ramp-up of crude oil production over the coming months. Once all Tengiz facilities are operating at full capacity, TCO’s total annual crude oil production is expected to reach approximately 40 million tons per annum.
As part of its work on the project, significant contributions and commitments to building a sustainable economic future for residents have been made. These include the development of programs for schools and universities to train craft labor and professional engineers, as well as new capabilities for the Republic of Kazakhstan in engineering, high-tech equipment servicing, project management, construction and fabrication.
Tengizchevroil LLP is a Kazakhstani partnership owned by Chevron (50%), KazMunayGas (20%), ExxonMobil (25%) and Lukoil (5%).
“Achieving first oil is a significant accomplishment and we congratulate the TCO team,” said Mike Alexander, President of Fluor’s Energy Solutions business. “Fluor has supported TCO for the past 14 years and has been active in the Republic of Kazakhstan since 1982, working on projects that have helped shape the oil and gas industry.”
As part of the FGP, a new Third-Generation Plan (3GP) was built at the Tengiz oil field, which was discovered in 1979 and ranks as one of the world’s largest and deepest fields. This project milestone marks the beginning of a ramp-up of crude oil production over the coming months. Once all Tengiz facilities are operating at full capacity, TCO’s total annual crude oil production is expected to reach approximately 40 million tons per annum.
As part of its work on the project, significant contributions and commitments to building a sustainable economic future for residents have been made. These include the development of programs for schools and universities to train craft labor and professional engineers, as well as new capabilities for the Republic of Kazakhstan in engineering, high-tech equipment servicing, project management, construction and fabrication.
Tengizchevroil LLP is a Kazakhstani partnership owned by Chevron (50%), KazMunayGas (20%), ExxonMobil (25%) and Lukoil (5%).
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