NEW DELHI: A major Indian energy joint venture has achieved significant success in the Middle East. Urja Bharat, formed by Indian Oil Corporation Limited and Bharat PetroResources, has made not one but two oil discoveries in an onshore block in Abu Dhabi.
Minister Hails Milestone for Energy Security
Petroleum and Natural Gas Minister Hardeep Singh Puri welcomed the development. He stated that this discovery represents a fresh milestone in India's ongoing journey toward energy self-sufficiency. The finds are seen as a strategic boost for the nation's long-term energy security plans.
Details of the Discoveries
In an official statement, Indian Oil Corporation provided specific details. The company confirmed that Urja Bharat Pte Ltd made its first oil discovery at the XN-76 exploration well early in 2024. Following this initial success, the venture struck oil again while drilling the XN-79 02S exploratory well. Both wells are located within the same concession area.
Bharat Petroleum Corporation Limited offered further technical insight. The first discovery occurred in what is known as the unconventional Shilaif play at the XN-76 well. After conducting successful hydro-fracking operations, the well produced oil at the surface from this formation. These test results conclusively proved the presence of unconventional oil resources within Onshore Block 1.
The second discovery came during testing of the XN-79 02S well. This well flowed crude oil from the Habshan reservoir. This marks the very first time oil has been found in this specific reservoir within the entire concession area. BPCL emphasized that these new discoveries will directly support Bharat PetroResources' efforts to enhance India's overall energy security.
Background of the Concession
Urja Bharat Pte Ltd secured the exploration rights for Onshore Block 1 back in March 2019. This concession covers a vast area of up to 6,162 square kilometers. The agreement grants UBPL one hundred percent concession rights over this territory. The partner companies invested a substantial sum, nearly 166 million US dollars, into the exploration phase. This investment phase has now concluded with these successful discoveries.
