Abu Dhabi awards consortium of two Indian oil companies production rights in Ruwais area

By Staff Reporter

Dubai: The Abu Dhabi Supreme Council for Financial and Economic Affairs has awarded a production concession to two Indian oil companies – Indian Oil Corporation Limited and Bharat Petroleum Corporation Limited.

The concession was awarded to Urja Bharat Pte. Ltd. (UBPL), a special purpose vehicle featuring the two Indian companies. They will work on an area of up to 6,162 square kilometers, granting UBPL 100 per cent concession rights.

Source: Gulf News