Oil and Natural Gas Corporation Limited (ONGC) signed an agreement with bp, selecting the global energy company as the Technical Services Provider (TSP) for the Mumbai High field—India’s largest and most productive offshore oil field. ONGC will maintain ownership and operational control, and bp will provide technical services to optimise production.

Boosting Production with Advanced Expertise

The partnership aims to reverse the current production decline at Mumbai High and drive growth through advanced recovery techniques. Over the next two years, bp will receive a fixed service fee for its personnel, followed by a performance-based fee linked to additional oil and gas output. The company will conduct in-depth reservoir assessments, implement system improvements, and also enhance recovery strategies to maximize efficiency.

A team of technical experts will begin work by March 2025. To ensure smooth execution, ONGC and bp have formed Senior and Joint Management Teams to oversee the project and drive collaboration. This collaboration will boost domestic energy production, increasing ONGC’s revenue while giving bp financial returns linked to higher oil and gas output.

Also read: BP Teams Up with ONGC to Boost Mumbai High Field Production

Government Support for Energy Independence

India’s Minister of Petroleum and Natural Gas, Shri Hardeep Puri,said, “India’s quest towards energy self-sufficiency under the dynamic leadership of Hon’ble PM Narendra Modi Ji gets a massive boost as ONGC onboards its energy partner bp as Technical Service Provider for the Mumbai High Field, landmark field which has been providing energy security to us since 1974.”

He added, “While ONGC continues to retain the ownership of the field, this unique technology collaboration with BP’s expertise in managing complex mature reservoirs and implementing advanced recovery technologies and best operational practices will help in enhancing the production from this iconic field.”

This strategic partnership will play a key role in India’s push for greater energy security and sustainability, reinforcing the country’s position in the global oil and gas sector.

Singtel’s regional data centre arm, Nxera DCT Pte Ltd., has secured a S$643 million green loan to finance its new 58MW data centre, DC Tuas, located in Singapore. The five-year green loan from a group of major banks, including DBS, OCBC, Standard Chartered, HSBC, and UOB, will support the development and capital expenditure of the project.

A Green Milestone for DC Tuas

The DC Tuas data centre will become Singapore’s most hyper-connected green centre, earning Green Mark Platinum certification. The Building and Construction Authority and Infocomm Media Development Authority certification embodies the centre’s sustainable design and operations. DC Tuas will also feature the most advanced technologies, next-generation liquid cooling systems to meet the rising demands of high-intensity computing and AI workloads.

Arthur Lang, Singtel Group’s CFO, said, “DC Tuas will feature a green design and build, as well as next-generation liquid cooling systems, making it ideal for meeting the demand from enterprises for high intensity compute and AI workloads.”

He added, “Sustainability is a core part of our data centre business, and we are committed to developing and growing the industry’s most sustainable, next-generation digital assets. This loan will enable us to support Singapore’s digital economy while reducing our carbon footprint in keeping with our net zero goals.”

Commitment to Sustainability and Net-Zero Emissions

Nxera is working toward net-zero emissions by 2028 and plans to integrate sustainability across all its operations. Additionally, the centre will incorporate a highly efficient chilled water system, water recycling features, and sustainable cooling solutions to maximize water and energy efficiency.

Also read: Cloverleaf Infrastructure Secures $300 Million for Clean-Powered Data Centres 

Aligning Financing with Sustainability Goals

This green loan aligns with Singtel’s sustainable financing program, Olives, which ties its financing initiatives to long-term sustainability objectives. This loan builds on Singtel’s previous success, following a S$535 million green loan secured in December 2023 to support the operations of its DC West and DC Kim Chuan data centres.