India, Jan. 14 -- Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) on Wednesday announced oil discoveries in an onshore block in Abu Dhabi, strengthening their overseas upstream portfolio and supporting India's energy security initiatives.
Urja Bharat Pte Ltd (UBPL), a 50:50 special purpose vehicle of IOC and BPCL's exploration and production arm Bharat PetroResources Ltd (BPRL), had made its first oil discovery at the XN-76 exploration well in early 2024, IOC said in a statement.
The joint venture has now made another oil discovery during the drilling of the XN-79 02S exploratory well in the same block, further enhancing the prospects of the Abu Dhabi onshore asset.
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