Bharat Petroleum Subsidiary Wins First Full Production Concession in Abu Dhabi

Bharat Petroleum Corporation Ltd.'s subsidiary, Bharat PetroResources Limited (BPRL), along with Indian Oil Corporation Limited, have been awarded a production concession by The Supreme Council for Financial and Economic Affairs (SCFEA), Abu Dhabi. This follows the award of the exploration and production concession to UBPL in March 2019, and the successful completion of the exploration phase, during which the company invested nearly USD 164 million. The concession agreement covers a total area of up to 6,162 square kilometers, granting UBPL 100% concession rights. The area includes conventional undeveloped oil and gas resources, and its development will contribute to Abu Dhabi's efforts to expand its hydrocarbon sector while promoting sustainable economic growth in the emirate. This is the first full production concession award to an international company from the Abu Dhabi’s exploration blocks bid rounds. The production concession agreement gives UBPL the equity oil rights and will supplement the efforts of the company towards energy security of India.