The Urja Bharat 50:50 joint venture of Indian state firms IndianOil and Bharat Petroleum plans to start producing oil from Abu Dhabi’s Onshore Block 1 license next year. The JV has a 100% stake in the concession, which was upgraded from an exploration license to production license in September 2024 (MEES, 13 September 2024).
A field development plan (FDP) for the 38km² Ruwais field in the western portion of the block was approved in April 2024, and the partners aim to start production in 2026. In its 2024/2025 Annual Report, Bharat Petroleum says “the concession is moving towards developmental activities. The oil production from the field is anticipated in 2026.” IndianOil likewise says production will begin by the 2026-27 year. (CONTINUED - 398 WORDS)
