BENGALURU (Reuters) – Abu Dhabi has awarded oil and gas production rights for an onshore block to a joint venture of Indian state-run refiners Bharat Petroleum Corp Ltd and Indian Oil Corp , BPCL said in a statement on Wednesday.
The Supreme Council for Financial and Economic Affairs of Abu Dhabi has granted rights to Urja Bharat Pte Ltd, an equal joint venture of Indian Oil and Bharat PetroResources, BPCL’s exploration and production arm.
The Indian companies have been given production rights for onshore block 1 after completing the exploration phase awarded in 2019.
“Initial exploration efforts have yielded positive results in Onshore Block 1,” BPCL said.
(Reporting by Nidhi Verma in New Delhi and Hritam Mukherjee in Bengaluru; Editing by Vijay Kishore)
