Overview
- Urja Bharat Pte Ltd, the 50:50 JV of IOC and BPCL’s BPRL, reported light crude flow from well XN-79 02S in the Habshan reservoir, the first oil found there within the concession.
- An earlier test at well XN-76 in the unconventional Shilaif play flowed light crude after hydro-fracturing, confirming unconventional oil resources in Onshore Block 1.
- The exploration phase has concluded on the March 2019 concession covering up to 6,162 sq km, with nearly $166 million invested and 100% concession rights held by UBPL.
- Appraisal will focus on confirming economic deliverability, with any development dependent on technical results, capital plans and approvals from Abu Dhabi authorities.
- The partners say the discoveries strengthen their overseas upstream portfolio and, under the production concession, equity oil would support India’s energy security if commerciality is established.