Shell, Reliance, and ONGC complete first Indian offshore decommissioning

Reliance Industries (BSE: 500325), along with partners Shell and ONGC, announced the successful completion of India's first offshore decommissioning project, involving the safe removal of the mid and south Tapti field facilities. The PMT joint venture project, with ONGC holding a 40% interest and Reliance and Shell each holding 30%, involved the removal of five wellhead platforms, associated pipelines, and the plugging of 38 wells. The decommissioning aligns with the Indian government's 'Make in India' vision, awarding contracts to domestic companies Larsen and Toubro and Chowgule Shipyard. The project sets a benchmark for future offshore energy transitions, developed collaboratively with key stakeholders, including the Union Ministry of Petroleum and Natural Gas. Reliance recorded a consolidated revenue of INR 10,71,174 crore (US$ 125.3 billion) for the year ended March 31, 2025.