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IOC-BPRL consortium secures oil block in Abu Dhabi
March 26, 2019

IOC-BPRL consortium secures oil block in Abu Dhabi

India’s largest oil guzzler, Indian Oil Corporation (IOC) informed in a regulatory filing yesterday about winning 100% stake in Abu Dhabi Onshore Block 1 Concession with BPRL. The two oil firms will invest USD 170 million in the concession. IOC and BPRL participated in Abu Dhabi's first-ever competitive bid round through a special purpose vehicle (SPV), Urja Bharat Pte Ltd.

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