ONGC & Reliance Ink Pact to Boost Deepwater Projects on East Coast

Oil and Natural Gas Corporation (ONGC) and Reliance Industries, in a historic agreement, signed a landmark agreement that intends to improve the process of sharing resources for deepwater offshore exploration and production (E&P) activities.

The alliance targets the East Coast of India, especially the Godavari (Krishna) Basin and the Andaman offshore block, where the two industry powerhouses seek to realize cost optimization, accelerate the project completion and enhance the use of assets in complex deepwater projects.

This contract is compliant with the prospective measure proposed by the Ministry of Petroleum and Natural Gas (MoPNG) by the Amendment Act of the Oilfields (Regulation and Development) Amendment Act, 2025 (ORDA Act 2025).

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The Act also offers a strong structure that helps the E&P operators to share infrastructure and facilities, onshore and offshore, that would facilitate more efficient exploitation of the oilfields and hydrocarbon production.

Within this partnership, ONGC and Reliance will share resources for offshore operations. They are the onshore and offshore processing facilities, drill rig, marine vessels (MSV, Tugs, PSV), power, pipelines, logging and well services.

This strategic alliance will spearhead operational efficiencies but also increase Indian position in deepwater exploration and thus help to improve energy security and development objectives of the nation.

The agreement is a major step towards the optimization of offshore exploration, which will see the offshore sector in India take leaps.