Minister of Petroleum and Natural Gas, Hardeep Singh Puri, revealed a significant development where India’s oil companies have discovered oil in an onshore hydrocarbon block in Abu Dhabi. The discovery, made by Urja Bharat PTE Ltd (UBPL), a joint venture between Indian Oil Corporation and Bharat PetroResources Ltd (BPCL), includes light crude oil in the Shilaif play and the Habshan reservoir.
The successful exploration of these oil reserves signifies a crucial milestone in Indian Oil’s global expansion efforts. Minister Puri expressed optimism about further unlocking hydrocarbon potential in the concession and emphasized the importance of the discovery in India’s journey towards energy self-sufficiency under Prime Minister Narendra Modi’s leadership.
Minister Puri praised the dedication and technical expertise of the teams involved, highlighting their role in enhancing India’s energy security through strategic international partnerships. Additionally, he mentioned advancements in India’s domestic energy sector, with ongoing studies in seven sedimentary basins using advanced technology for oil and gas exploration nationwide.
India’s energy landscape is evolving with the launch of Mission Anveshan, a seismic mapping initiative targeting 20,000 ground-line kilometers of surveys. The country has opened up 1 million square kilometers of offshore areas for oilfield exploration, with significant progress in clearing ‘No-Go’ zones. The Open Acreage Licensing Programme (OALP) has attracted attention from global and domestic energy players, with expectations for Round X to drive increased participation and investment.
