ONGC seeks oil majors for Western offshore blocks; multiple deals signed

ONGC has invited global oil majors for technical support partnerships in its western offshore blocks to lift output

State-run Oil and Natural Gas Corporation (ONGC) has floated a tender for a technical support partnership (TSP) with global oil majors for its blocks in the western offshore, excluding Mumbai High, as it looks to arrest stagnant production, a senior official said on the sidelines of India Energy Week (IEW) 2026 in Goa.

 

What is ONGC seeking through the TSP model?

 

The partnership would be similar to ONGC’s existing TSP with global major BP for the Mumbai High block. “We have seen good results in the Mumbai High region and therefore we would like to explore similar partnerships for other regions,” said Pankaj Kumar, director (production), ONGC.

 

Who are the global players showing interest?

 

Global companies including Chevron, TotalEnergies, ExxonMobil and Shell are among the interested players for the partnership. The move comes amid ONGC’s efforts to boost production from its mature oil blocks, where output has remained under pressure.

 

What energy deals were signed at India Energy Week 2026?

 

The first day of the IEW event also saw India signing multiple significant deals underscoring its focus on securing energy supplies while opening new avenues to support growth. This included ONGC establishing two joint ventures with Mitsui O.S.K. Lines (MOL) and signing a 15-year term charter contract for building two very large ethane carriers (VLECs).

 

What do the VLEC agreements involve?

 

The 100,000-cubic-metre VLECs will be equipped with dual-fuel main engines capable of burning ethane as fuel and will be constructed at South Korea-based Samsung Heavy Industries. Delivery is slated for late 2028 or later, after which the vessels will transport liquefied ethane from the United States to India, the companies said.

 

MOL also signed a long-term LNG carrier charter agreement with state-run GAIL.

 

How are India and Canada strengthening energy ties?

 

The Indian government, led by Union minister Hardeep Singh Puri, also held a bilateral meeting with Canada at the event to strengthen energy ties. India presents opportunities for Canada to supply crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), while New Delhi could export refined petroleum products, the two countries said.

 

“Canada has stated its goal of becoming an energy superpower in clean and conventional energy, with export diversification as a priority, while India, as the epicentre of the global energy landscape, offers a natural and symbiotic partnership grounded in scale, stability and long-term opportunity,” the countries said in a joint statement.

 

What other crude supply agreements were announced?

 

Meanwhile, state-run Bharat Petroleum Corporation Ltd (BPCL) also signed a term contract with Brazil’s state-run Petrobras to purchase 12 million barrels of crude oil for $780 million, Puri said. The fresh deal for fiscal 2026–27 will double volumes from the previous year’s term contract, under which Petrobras supplied 6 million barrels during fiscal 2025–26. 

State-run Oil and Natural Gas Corporation (ONGC) has floated a tender for a technical support partnership (TSP) with global oil majors for its blocks in the western offshore, excluding Mumbai High, as it looks to arrest stagnant production, a senior official said on the sidelines of India Energy Week (IEW) 2026 in Goa.

 

What is ONGC seeking through the TSP model?

 

The partnership would be similar to ONGC’s existing TSP with global major BP for the Mumbai High block. “We have seen good results in the Mumbai High region and therefore we would like to explore similar partnerships for other regions,” said Pankaj Kumar, director (production), ONGC.

 

Who are the global players showing interest?

 

Global companies including Chevron, TotalEnergies, ExxonMobil and Shell are among the interested players for the partnership. The move comes amid ONGC’s efforts to boost production from its mature oil blocks, where output has remained under pressure.

 

What energy deals were signed at India Energy Week 2026?

 

The first day of the IEW event also saw India signing multiple significant deals underscoring its focus on securing energy supplies while opening new avenues to support growth. This included ONGC establishing two joint ventures with Mitsui O.S.K. Lines (MOL) and signing a 15-year term charter contract for building two very large ethane carriers (VLECs).

 

What do the VLEC agreements involve?

 

The 100,000-cubic-metre VLECs will be equipped with dual-fuel main engines capable of burning ethane as fuel and will be constructed at South Korea-based Samsung Heavy Industries. Delivery is slated for late 2028 or later, after which the vessels will transport liquefied ethane from the United States to India, the companies said.

 

MOL also signed a long-term LNG carrier charter agreement with state-run GAIL.

 

How are India and Canada strengthening energy ties?

 

The Indian government, led by Union minister Hardeep Singh Puri, also held a bilateral meeting with Canada at the event to strengthen energy ties. India presents opportunities for Canada to supply crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), while New Delhi could export refined petroleum products, the two countries said.

 

“Canada has stated its goal of becoming an energy superpower in clean and conventional energy, with export diversification as a priority, while India, as the epicentre of the global energy landscape, offers a natural and symbiotic partnership grounded in scale, stability and long-term opportunity,” the countries said in a joint statement.

 

What other crude supply agreements were announced?

 

Meanwhile, state-run Bharat Petroleum Corporation Ltd (BPCL) also signed a term contract with Brazil’s state-run Petrobras to purchase 12 million barrels of crude oil for $780 million, Puri said. The fresh deal for fiscal 2026–27 will double volumes from the previous year’s term contract, under which Petrobras supplied 6 million barrels during fiscal 2025–26.