Indian Oil Corporation Limited (IOCL), in a joint venture with Bharat PetroResources Limited (a subsidiary of Bharat Petroleum Corporation Limited) through their 50:50 Special Purpose Vehicle, Urja Bharat Pte Limited (UBPL), has announced significant oil discoveries in the Onshore Block 1 Exploration Concession in Abu Dhabi.

UBPL, which was awarded the concession in early 2019, made its first oil discovery in the Unconventional Shilaif play in the XN-76 exploratory well in early 2024. Following successful hydrofracking operations, the well yielded light crude oil from the Shilaif formation, confirming the presence of unconventional oil resources. The company expressed optimism about these results and anticipates further establishing economic deliverability during the appraisal phase.

Furthermore, UBPL has also confirmed an oil discovery during the testing of the exploratory well XN-79 02S in Onshore Block 1. This well produced light crude oil, marking the first oil find in the Habshan reservoir within the concession area. This discovery will be appraised and matured for potential development.

These positive developments are considered a significant achievement for both parent companies. In parallel, UBPL is progressing with the development of the existing Ruwais field and exploring other potential hydrocarbon prospects within the concession area.