Saurashtra oil and gas block exploration: Reliance signs pact with BP and ONGC
Multinational business firm, Reliance Industries Ltd (RIL) has entered into a joint operating agreement with state-owned Oil and Natural Gas Corporation (ONGC) and BP Exploration. This agreement is for the Saurashtra basin oil and gas exploration block.
Under the agreement, the firms got together to bid for an area for finding and producing oil and gas in offshore exploration of Block GS-OSHP-2022/2 in the 9th bid round of the Open Acreage Licensing Policy (OALP). The aim is to assess and develop the hydrocarbon potential of the 5,454 square kilometre offshore area.
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