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BP Bags Contract to Provide Technical Services for India's ONGC

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BP (BP.L) said Thursday it agreed to provide technical services on the Western Offshore Basin fields of India's government-owned explorer, Oil and Natural Gas Corp., under a new contract.

The London-listed oil and gas company said the deal covers 43 blocks in the hydrocarbon-producing basin, and it will work on identifying and implementing focused interventions across reservoirs, wells, and production facilities.

BP will receive a fixed fee for the first two years and later earn a service fee linked to generated revenue from net incremental hydrocarbon production.

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