India's ONGC launches global tender for tech service providers to enhance Mumbai High oil field output.
India's ONGC seeks global tech service providers to boost Mumbai High oil field output; international tender launched for TSPs with $75B annual revenue. Selected partners will propose quarterly incremental production targets over a decade-long contract period and quote revenue share for excess production. Mumbai High field, discovered in 1974, has seen declining yields since its peak in 1989. ONGC aims to utilize advanced technology to optimize remaining reserves.
June 09, 2024
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