Abu Dhabi Awards Production Rights in Ruwais Area to Indian Oil Consortium

The Supreme Council for Financial and Economic Affairs of Abu Dhabi has awarded a significant production concession to a consortium of two Indian oil companies, Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL). This landmark agreement grants the consortium full production rights in the Ruwais area, marking a notable milestone in the collaboration between the United Arab Emirates (UAE) and India in the energy sector. A Strategic Partnership The awarded concession covers an extensive area of up to 6,162 square kilometers, with initial exploration efforts yielding promising results in the Onshore Block, specifically within the 38 square kilometer Ruwais area. The consortium, operating under the joint venture Urja Bharat Pte. Ltd. (UBPL), will have 100% concession rights, allowing them to fully manage and develop the oil and gas resources in this region. This partnership is a testament to the strong bilateral relations between the UAE and India. It reflects the mutual commitment to enhancing energy security and economic cooperation. The collaboration is expected to bring advanced technology and expertise to the Ruwais area, ensuring efficient and sustainable resource management. Enhancing Energy Security This agreement is part of Abu Dhabi’s broader strategy to