Indian Oil Corporation Makes Significant Oil Discoveries in Abu Dhabi's Onshore Block 1

Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Limited, through their Special Purpose Vehicle Urja Bharat Pte Limited (UBPL), have made significant oil discoveries in the Onshore Block 1 Exploration Concession in Abu Dhabi. The first discovery was made in the Unconventional Shilaif play in XN-76 exploratory well, which flowed light crude oil at surface from the Shilaif formation after successful hydrofracking operations. The second discovery was made in the Habshan reservoir in the exploratory well XN- 79 02S. Both companies are positive about these discoveries and are looking forward to appraising and potentially developing these finds. This is a significant achievement for both parent companies as international operators.