In a major milestone for India’s energy sector, Reliance Industries (RIL), Shell, and Oil and Natural Gas Corporation (ONGC) have jointly completed the country’s first offshore decommissioning project. The consortium successfully dismantled the mid and south Tapti field facilities in the Arabian Sea, marking a historic moment in offshore energy infrastructure management.
The Tapti oil and gas fields were previously operated by the Panna-Mukta and Tapti (PMT) joint venture, formed under a production sharing agreement with the Government of India. The joint venture consisted of ONGC holding a 40% participating interest, with the remaining interest shared between Reliance Industries and Shell (through its subsidiary BG Exploration & Production India).
Production from these fields had ceased in March 2016, but the decommissioning project extended the legacy of the JV through a safe and responsible closure of operations.
The offshore decommissioning involved the removal of:
The execution of this complex project required careful planning and coordination, with a strong focus on regulatory compliance, environmental stewardship, and operational safety.
According to Sanjay Barman Roy, President of E&P at Reliance Industries, the project not only upheld the highest safety and environmental standards but also boosted India’s technical capacity in offshore operations. By strengthening local supply chains and improving the expertise of Indian contractors, the project has aligned well with the Indian government’s “Make and Break in India” vision.
Reliance Industries Limited (RIL) saw a slight decline of 0.97%, with its stock price moving from a previous close of ₹1,431.30 to ₹1,417.40. The stock opened at ₹1,431.00 and reached a high of ₹1,432.00, before dipping to ₹1,416.90 at 9:25 AM on the NSE.
On the other hand, Oil & Natural Gas Corporation Limited (ONGC) experienced a modest increase of 0.96%, with its stock price rising from ₹239.20 to ₹241.50. The stock opened at ₹241.13, peaked at ₹242.99, and had a low of ₹240.80.
The successful completion of the Tapti decommissioning project sets a precedent for future offshore dismantling activities in India. It showcases how global partnerships, when aligned with national goals, can lead to significant advancements in both energy management and industrial capability.
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Published on: May 6, 2025, 9:32 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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