BPRL-IOCL JV secures first full production concession in Abu Dhabi
OIL & GAS

BPRL-IOCL JV secures first full production concession in Abu Dhabi

Bharat PetroResources (BPRL), a wholly-owned subsidiary of Bharat Petroleum Corporation (BPCL), in partnership with Indian Oil Corporation (IOCL), has received a production concession through their joint venture, Urja Bharat (UBPL). This concession was granted by the Supreme Council for Financial and Economic Affairs (SCFEA) in Abu Dhabi.

This award follows UBPL's earlier exploration and production concession secured in March 2019, after successfully completing the exploration phase with an investment of approximately $164 million. The concession encompasses an area of up to 6,162 square kilometres, providing UBPL with 100% concession rights.

Exploration activities in Onshore Block 1, particularly in the 38-square-kilometer Ruwais area, have shown promising results. The region contains conventional undeveloped oil and gas resources, and its development is expected to contribute to the expansion of Abu Dhabi's hydrocarbon sector, fostering sustainable economic growth.

The production concession agreement grants UBPL equity oil rights, enhancing India's energy security initiatives. This marks BPRL's first complete production concession in the Abu Dhabi region, aligning with its strategy to diversify its portfolio by acquiring production assets in resource-rich basins.

Notably, this is the first full production concession awarded to an international company from Abu Dhabi’s exploration blocks bid rounds.

Bharat PetroResources (BPRL), a wholly-owned subsidiary of Bharat Petroleum Corporation (BPCL), in partnership with Indian Oil Corporation (IOCL), has received a production concession through their joint venture, Urja Bharat (UBPL). This concession was granted by the Supreme Council for Financial and Economic Affairs (SCFEA) in Abu Dhabi. This award follows UBPL's earlier exploration and production concession secured in March 2019, after successfully completing the exploration phase with an investment of approximately $164 million. The concession encompasses an area of up to 6,162 square kilometres, providing UBPL with 100% concession rights. Exploration activities in Onshore Block 1, particularly in the 38-square-kilometer Ruwais area, have shown promising results. The region contains conventional undeveloped oil and gas resources, and its development is expected to contribute to the expansion of Abu Dhabi's hydrocarbon sector, fostering sustainable economic growth. The production concession agreement grants UBPL equity oil rights, enhancing India's energy security initiatives. This marks BPRL's first complete production concession in the Abu Dhabi region, aligning with its strategy to diversify its portfolio by acquiring production assets in resource-rich basins. Notably, this is the first full production concession awarded to an international company from Abu Dhabi’s exploration blocks bid rounds.

Next Story
Infrastructure Energy

Adyant Enersol & UPC Renewables Secure SJVN's 600 MW Wind Project

Adyant Enersol (Datta Infra) and UPC Renewables secured contracts in SJVN’s auction to develop 600 MW inter-state transmission system (ISTS)-connected wind power projects under a build-own-operate model. Adyant Enersol was awarded 70 MW with a tariff of Rs 3.98/kWh, while UPC Renewables secured 100 MW at a tariff of Rs 3.99/kWh. The tender for these projects was issued in March 2024, allowing bidders to submit proposals for capacities ranging from a minimum of 50 MW to a maximum of 300 MW, with project sizes specified in multiples of 10 MW. The selected developers are required to establis..

Next Story
Infrastructure Energy

Bridge and Roof Secures SJVN Contract for 100 MW Solar Project

Bridge and Roof Company, a government enterprise under the Ministry of Heavy Industries, has secured the engineering, procurement, and construction contract from SJVN Green Energy to establish a 100 MW solar power project in Rajasthan’s Didwana-Kuchaman district. The project is valued at approximately Rs 3.5 billion. The tender was issued in April 2024. The scope of work includes land development, design and engineering, procurement of equipment and materials, testing at the manufacturer’s facility, packing, transportation, supply, unloading, on-site storage, installation, erection, test..

Next Story
Infrastructure Transport

NHAI Uses AI and Drones to Detect 1,000 Encroachments on Highways

The National Highway Authority of India (NHAI) has implemented artificial intelligence (AI) and drone technology to detect approximately 1,000 encroachments on four major national highways. This initiative aims to address obstacles that hinder road construction projects and ensure their timely completion. The survey covered a span of about 360 kilometres, utilising high-frequency drones to capture detailed aerial images of the highways. AI-driven algorithms analysed these images to identify potential encroachments, including parked vehicles, construction materials, and makeshift structures. F..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000