Oil Discoveries Boost Onshore Block 1 Prospects in Abu Dhabi
OIL & GAS

Oil Discoveries Boost Onshore Block 1 Prospects in Abu Dhabi

Indian Oil Corporation Limited (IOCL), together with Bharat PetroResources Limited, is jointly advancing oil exploration in Abu Dhabi’s Onshore Block 1 following encouraging discoveries in both unconventional and conventional reservoirs. The block is operated through Urja Bharat Pte Limited, a 50:50 special purpose vehicle established by the two Indian companies.

UPBL was awarded the Onshore Block 1 concession in early 2019 under Abu Dhabi’s 2019 bid round. In early 2024, the company achieved its first oil discovery in the unconventional Shilaif play at the XN-76 exploratory well. After successful hydrofracking operations, the well flowed light crude oil to the surface from the Shilaif formation, confirming the presence of unconventional oil resources in the block.

The company has expressed confidence in the results and plans to focus on establishing the economic deliverability of wells during the appraisal phase. The outcome marks an important step towards assessing the commercial viability of unconventional resources within the concession area.

In addition, UPBL recorded another oil discovery during testing at the XN-79 02S exploratory well. This well flowed light crude oil from the Habshan reservoir, representing the first oil find in this reservoir within the concession. The discovery is expected to be appraised further and progressed towards potential development.

Both parent companies view the results as a significant milestone in their international upstream operations. Alongside appraisal of the new discoveries, UPBL is also progressing development of the existing Ruwais field and continuing exploration of additional hydrocarbon prospects across the concession.

Indian Oil Corporation Limited (IOCL), together with Bharat PetroResources Limited, is jointly advancing oil exploration in Abu Dhabi’s Onshore Block 1 following encouraging discoveries in both unconventional and conventional reservoirs. The block is operated through Urja Bharat Pte Limited, a 50:50 special purpose vehicle established by the two Indian companies. UPBL was awarded the Onshore Block 1 concession in early 2019 under Abu Dhabi’s 2019 bid round. In early 2024, the company achieved its first oil discovery in the unconventional Shilaif play at the XN-76 exploratory well. After successful hydrofracking operations, the well flowed light crude oil to the surface from the Shilaif formation, confirming the presence of unconventional oil resources in the block. The company has expressed confidence in the results and plans to focus on establishing the economic deliverability of wells during the appraisal phase. The outcome marks an important step towards assessing the commercial viability of unconventional resources within the concession area. In addition, UPBL recorded another oil discovery during testing at the XN-79 02S exploratory well. This well flowed light crude oil from the Habshan reservoir, representing the first oil find in this reservoir within the concession. The discovery is expected to be appraised further and progressed towards potential development. Both parent companies view the results as a significant milestone in their international upstream operations. Alongside appraisal of the new discoveries, UPBL is also progressing development of the existing Ruwais field and continuing exploration of additional hydrocarbon prospects across the concession.

Next Story
Infrastructure Transport

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

Next Story
Infrastructure Urban

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Next Story
Infrastructure Urban

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

-->