BPCL’s arm, IOC acquire Abu Dhabi Onshore Block 1
26th Mar 2019

Bharat Petro Resources (BPRL), a 100% subsidiary of Bharat Petroleum Corporation (BPCL) and its Exploration and Production arm along with Indian Oil Corporation (IOC) acting jointly through a 50:50 Special Purpose Vehicle viz., Urja Bharat Pte have been awarded an exploration concession for Abu Dhabi Onshore Block 1. The award has been endorsed by the Supreme Petroleum Council (SPC) on behalf of the Government of the Emirate of Abu Dhabi and represents a further deepening of the fast-growing UAE-India energy relationship as well as the continued expansion of BPCL's Upstream exploration operations. The concession agreement has a term of 35 years.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.