IOCL, BPCL’s exploration arm oil discovery in Abu Dhabi Onshore Block 1

Indian Oil Corporation Ltd. (IOCL) and the exploration arm of Bharat Petroleum Corporation Ltd. (BPCL) have discovered oil resources at Abu Dhabi’s Onshore Block 1 through their joint venture Urja Bharat Pte Limited (UBPL).

About the Joint Venture

• Urja Bharat Pte Limited (UBPL) is a joint venture between IOCL and BPCL
• Both Indian refiners hold equal equity stakes
• The Onshore Block 1 concession was awarded to the BPCL–IOCL JV for exploration and appraisal

Agreement with ADNOC

In 2019, the Abu Dhabi National Oil Company (ADNOC) entered into an agreement with UBPL to:

• Explore, appraise and develop hydrocarbon resources in Onshore Block 1
• Confirm the presence, extent and commercial potential of oil and gas reserves in the concession area

First Oil Discovery

The joint venture achieved its first oil discovery in early 2024:

• Discovery was made in the unconventional Shilaif play
• Located at the XN-76 exploratory well