BPRL-IOCL JV secures first full production concession in Abu Dhabi

17 Sep 2024 CW Team

Bharat PetroResources (BPRL), a wholly-owned subsidiary of Bharat Petroleum Corporation (BPCL), in partnership with Indian Oil Corporation (IOCL), has received a production concession through their joint venture, Urja Bharat (UBPL). This concession was granted by the Supreme Council for Financial and Economic Affairs (SCFEA) in Abu Dhabi.

This award follows UBPL's earlier exploration and production concession secured in March 2019, after successfully completing the exploration phase with an investment of approximately $164 million. The concession encompasses an area of up to 6,162 square kilometres, providing UBPL with 100% concession rights.

Exploration activities in Onshore Block 1, particularly in the 38-square-kilometer Ruwais area, have shown promising results. The region contains conventional undeveloped oil and gas resources, and its development is expected to contribute to the expansion of Abu Dhabi's hydrocarbon sector, fostering sustainable economic growth.

The production concession agreement grants UBPL equity oil rights, enhancing India's energy security initiatives. This marks BPRL's first complete production concession in the Abu Dhabi region, aligning with its strategy to diversify its portfolio by acquiring production assets in resource-rich basins.

Notably, this is the first full production concession awarded to an international company from Abu Dhabi’s exploration blocks bid rounds.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..