India's Oil and Natural Gas Corporation (ONGC), BP Exploration (Alpha), and Reliance Industries (RIL) have signed a joint operating agreement to explore offshore Block GS-OSHP-2022/2 in India's Saurashtra Basin. The agreement was formalized at ONGC's headquarters in New Delhi on July 28, 2025.

Consortium Formation and Bidding Success

The joint operating agreement follows the consortium's successful bid for the block under the government's Open Acreage Licensing Policy (OALP) Bid Round-IX. The three energy companies formed this partnership to jointly pursue exploration activities in the designated offshore area. 

ONGC will serve as the operator of the project, taking the lead role in exploration efforts to assess and unlock the area's hydrocarbon potential. The state-owned oil company will coordinate the exploration activities for the consortium.

Block Specifications and Location

The offshore block is located off the western coast in the Saurashtra Basin and covers approximately 5,454 square kilometers in the western offshore region. The block is situated in India's Category-II hydrocarbon basins, indicating its classification within the country's energy exploration framework. 

The substantial size of the exploration area represents a significant commitment by the three companies to investigate the hydrocarbon potential of this offshore region.

Strategic Significance

ONGC characterized the agreement as marking a significant milestone in collaborative energy exploration. The company stated that the partnership reflects the consortium's shared commitment to advancing India's energy security and contributing to the nation's long-term energy goals. 

The collaboration brings together ONGC's operational expertise as India's largest oil and gas exploration company, BP's international offshore exploration experience, and Reliance Industries' energy sector capabilities. This combination of resources and expertise positions the consortium to conduct comprehensive exploration activities in the designated block. 

The joint operating agreement represents the formalization of the partnership structure that will govern the exploration phase of the project, establishing the framework for how the three companies will work together to develop the offshore block's potential.