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ONGC Formalizes Offshore Energy Pact Under OALP-IX

In a landmark move to bolster India’s offshore energy ambitions, Oil and Natural Gas Corporation (ONGC) has signed a Joint Operating Agreement (JOA) with Reliance Industries Limited (RIL) and BP Exploration (Alpha) Ltd for the GS-OSHP-2022/2 block. This agreement signals the operational commencement of the block awarded under the ninth bid round of the Open Acreage Licensing Policy (OALP-IX).

The signing of this tripartite JOA marks a critical milestone in upstream hydrocarbon collaboration, uniting three energy majors to explore and develop offshore resources. The move reflects a shared commitment toward enhancing India’s energy self-reliance and accelerating exploration efforts in key sedimentary basins.

ONGC described the agreement as a “significant stride” in building strategic partnerships that support national energy goals. It is expected to unlock considerable exploration potential in the assigned block.

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