IOCL - BPCL joint venture announces fresh oil discoveries in Abu Dhabi onshore block, strengthening India's upstream footprint

Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd, through their joint venture Urja Bharat Pte Ltd, have announced new oil discoveries in Onshore Block 1 in Abu Dhabi. The finds strengthen India’s overseas upstream portfolio and support long-term energy security, with appraisal activities now underway to assess commercial potential.

Indian Oil Corporation and Bharat Petroleum Corporation Limited have marked an important step forward in India’s overseas upstream strategy with encouraging exploration results from their international portfolio.

Developed through their joint venture Urja Bharat Pte Ltd, the outcome underscores the growing role of Indian public sector companies in securing equity oil assets beyond domestic markets. The development strengthens India’s long-term energy security framework by diversifying supply sources and enhancing resilience against global market volatility.

As further technical and commercial assessments progress, the project is expected to deepen strategic energy ties with Abu Dhabi and reinforce India’s position as an active participant in international upstream investments. The move reflects a broader push by Indian PSUs to expand their global footprint and support national energy priorities through sustained overseas engagement.