As per reports, the Oil and Natural Gas Corporation (ONGC) has signed a term agreement with Hindustan Petroleum Corporation Limited for the sale of 4.5 million tonnes per annum (mtpa) of crude oil produced from its Mumbai’s offshore field. Earlier, it had signed a similar contract with Bharat Petroleum Corporation Limited for the sale of 4 mtpa of crude oil with an optional option of 0.5 mtpa. ONGC produces 13-14 mtpa of crude oil from its Mumbai offshore field in the Arabian Sea.
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