Oil and Natural Gas Corporation and BP (British Petroleum) both have agreed for a historic partnership due to which the oil production of Mumbai High will be increased by 60%. This means that India will not have to depend on Arab countries for oil production.
British Petroleum is one of the Biggest Oil and Gas Companies . British Petroleum will provide new technology and modern machineries to Mumbai High . ONGC and British Petroleum’s joint team will start working from next month . Due to decrease in production of Mumbai High, there is shortage of old technology and machines. Old Drilling platforms were not yet working at full capacity . There was a need for new technology so that more Oil could be extracted . Britain Petroleum will help in advanced drilling technology and water management to extract more oil.
With this partnership of ONGC and BP, India will now be able to take full advantage of its oil reserves.
India is 85% dependent on arab countries for Oil but after the possibility of new oil reserves found in Mumbai High,Gujarat,Assam and Uttar Pradesh if this started operating at full capacity then India will able to extract its owns oil .
Benefits of ONGC and BP Partnership
- Increase in Production of Oil
- No More dependent on Arab Countires
- Indian Economy will be Strong
- Stable Price of Petrol & Diesel
