BP p.l.c., a publicly owned British multinational, was founded in 1909. Headquartered in London, it operates globally in the oil and gas sector. As of 2023, BP employed approximately 63,800 people and reported revenues under $500 million. Historically, it has been among the largest companies worldwide based on revenue and profit.
ONGC plans to begin drilling stratigraphic wells in India's offshore basins in early 2024 to increase oil and gas exploration and reduce reliance on imports. A ₹3200 crore campaign will involve drilling four wells in the Andaman, Mahanadi, Saurashtra, and Bengal sedimentary basins. It remains uncertain whether BP will participate in the monetization of any discoveries; however, the possibility of BP requesting a first right of refusal on any development has been raised.
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