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IOC, BPCL arm announce oil discoveries in Abu Dhabi onshore block

Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo NEW DELHI, Jan 14: Indian Oil Corporation Ltd (IOC) and Bharat Petroleum Corporation Ltd (BPCL) on Wednesday announced oil discoveries in an onshore block in Abu Dhabi, strengthening their overseas upstream portfolio and India’s energy security efforts. Urja Bharat Pte Ltd (UBPL), a 50:50 special purpose vehicle of IOC and BPCL’s exploration and production arm Bharat PetroResources Ltd (BPRL), made its first oil discovery in XN-76 exploration well in early 2024, IOC said in a statement. It has now made another oil discovery during drilling of exploratory well XN-79 02S in the block, it said.

IOC, BPCL arm announce  oil discoveries in Abu Dhabi onshore block

Credit: Dailyexcelsior

Key Highlights

  • UBPL was awarded the Onshore Block 1 exploration concession in March 2019.
  • The partners have invested nearly USD 166 million in the exploration phase, which has now been successfully completed.
  • The concession spans up to 6,162 square kilometres and grants UBPL 100 per cent concession rights.
  • IOC said the first oil discovery was made in the unconventional Shilaif play at the XN-76 exploratory well.
  • Following successful hydro-fracturing operations, the well flowed oil at surface from the Shilaif formation, establishing the presence of unconventional oil resources in the block.
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Sources

  1. IOC, BPCL arm announce oil discoveries in Abu Dhabi onshore block

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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