09-Nov-2026 09:42:07
RIL, ONGC and BP Explore $1 Billion Common Offshore Gas Infrastructure Facility in Mahanadi Basin
Reliance Industries, state-owned ONGC and BP are exploring a $1 billion shared offshore infrastructure facility in the Mahanadi basin to develop deepwater and ultra-deepwater gas discoveries. Proposed by the Petroleum Ministry, the project aims to reduce development costs by allowing multiple operators to share infrastructure instead of building separate facilities. The facility could be an offshore floating production and storage unit or a fixed installation. Technical consultants are expected to be appointed, while development could take three to four years.