India's top explorer Oil And Natural Gas Corp on Wednesday said energy major BP will act as technical service provider to help boost oil and gas output from the country's largest producing field, off India's west coast.

BP has indicated that it could increase oil and gas production from Mumbai High by up to 60% from baseline production levels, ONGC said

In a first-of-its-kind appointment of a foreign oil major by a public sector player, BP has been selected by state-run national oil company ONGC to boost production at the Mumbai High offshore oilfield.

ONGC has partnered with BP to increase production from the declining Mumbai High oil field by up to 60% over 10 years. This collaboration, projected by BP, led to a 3% rise in ONGC shares. The tender required bidders to demonstrate significant annual revenues and propose incremental production plans.

ONGC shares rallied 3% on Wednesday after BP Plc won a bid to increase production at the Mumbai High oil and gas field, leading to a significant rise in the company's market valuation.

The decline in growth of gas output, which was 3.6% in Q1FY25 over Q1FY24 has been brought down to 2.1% in Q2FY25 over Q2FY24.

New Delhi, Jan 8 (PTI) BP Plc has won a bid to operate ONGC's giant Mumbai High oil and gas field by offering up to 60 per cent increase in output over baseline, the state-owned firm said on Wednesday.

State-run explorer ONGC has decided to rope in BP as technical partner to boost oil and gas production from Mumbai High India’s crown jewel, which will become the UK major’s second operating project in India and mark the first notable MNC entry in the country’s upstream sector following reforms initiated by the Narendra Modi government.

India’s Oil and Natural Gas Corporation said on Wednesday that energy major BP Plc has won a bid to be the company’s technical service provider for boosting oil and gas production from Mumbai High field off the west coast of India.