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ONGC signs agreement with Reliance Industries
Jan-28-2026

Oil and Natural Gas Corporation (ONGC) and Reliance Industries have signed a path-breaking agreement to enable resource sharing for deepwater offshore E&P operations on India’s East Coast, particularly across the Krishna Godavari (KG) basin and Andaman offshore, marking a major step towards cost optimization, faster execution, and improved asset utilization in complex deepwater projects.

This agreement is aligned with a forward-looking initiative facilitated by the Oilfields (Regulation and Development) Amendment Act, 2025 (ORDA Act 2025), introduced by the Ministry of Petroleum and Natural Gas (MoPNG), which creates a clear enabling framework for E&P operators to share infrastructure and facilities, both onland and offshore, for more efficient development of oilfields and production of hydrocarbons.

Under MoPNG’s enabling initiative, ONGC and Reliance will pursue sharing of key resources required for offshore operations, which may include (but is not limited to): onshore and offshore processing Facilities, drilling rigs, marine vessels (MSV, Tugs, PSV), Power, Pipelines, logging and well services etc.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.


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