DEEP IND , DOLPHIN OFFSHORE , JINDAL DRILLING , SEAMEC , ASIAN ENERGY; ONGC, RELIANCE & BP EXPLORE $1 BN OFFSHORE GAS INFRASTRUCTURE PROJECT - ET 🟢🟢

• Major Proposal: ONGC, Reliance Industries and BP are exploring a common offshore infrastructure facility worth approximately $1 billion • Project Location: Mahanadi Basin, targeting natural gas and condensate production from deepwater and ultra-deepwater fields • Government Initiative: Proposal initiated by the Ministry of Petroleum and Natural Gas • Project Status: Currently at preliminary discussion stage; technical consultants expected to be appointed • Shared Infrastructure: Companies could jointly utilise offshore facilities instead of developing separate infrastructure for individual discoveries • Cost Savings: Common facilities aim to reduce development costs and improve operational efficiency • Commercial Viability: Shared infrastructure could make smaller offshore gas discoveries economically viable • Oil Ancillaries Opportunity: Potential future demand for offshore engineering, subsea equipment, pipelines, drilling support and marine infrastructure services • Key Clarification: No final investment decision, EPC contract award or project execution timeline has been announced

JINDAL DRILLING IND. LTD

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