Bharat PetroResources Limited (BPRL) and Indian Oil Corporation Limited (IOCL) awarded production concession by The Supreme Council for Financial and Economic Affairs (SCFEA), Abu Dhabi.
The concession covers a total area of up to 6,162 square kilometers, granting UBPL 100% concession rights.
The area includes conventional undeveloped oil and gas resources, contributing to Abu Dhabi's hydrocarbon sector expansion and sustainable economic growth.
This is the first full production concession award to an international company from the Abu Dhabi’s exploration blocks bid rounds.
The production concession agreement gives UBPL the equity oil rights, supplementing the company's efforts towards energy security of India.