Puri praised the “dedication and technical excellence” of Indian teams involved in the project…reports Asian Lite News
In a significant boost to India’s energy ambitions, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced the discovery of light crude oil in Abu Dhabi’s Onshore Block 1. The breakthrough was achieved by Urja Bharat PTE Ltd (UBPL), a 50:50 joint venture between Indian energy giants Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Ltd (BPCL).
Addressing the development on X, Puri praised the “dedication and technical excellence” of Indian teams involved in the project. He said the discovery reinforces India’s commitment to strengthening its energy security through strategic international partnerships and marks a new milestone in the country’s pursuit of energy self-sufficiency under Prime Minister Narendra Modi’s leadership.
“The successful discovery of light crude oil in both the Shilaif play (XN-76) and the Habshan reservoir (XN-79 02S) reflects the capabilities of our teams and underscores our expanding global upstream journey,” Puri said. He added that the joint venture aims to further explore and unlock hydrocarbon potential within the concession area.
India’s energy demand continues to grow sharply. Speaking at a Mumbai conference last year, Puri noted that the country currently consumes around 5.6 million barrels of crude oil per day, up from 5 million barrels four-and-a-half years ago, and could soon reach 6 million barrels per day. According to the International Energy Agency, India is projected to account for nearly 30 per cent of the global rise in energy demand over the next two decades, up from an earlier estimate of 25 per cent.
The discovery is timely, given India’s heavy reliance on imports to meet energy needs. In 2024-25, the country imported roughly 300 million metric tons of crude oil and petroleum products, while exporting about 65 million metric tons, with the oil and gas sector contributing nearly 28 per cent of total trade by volume. Currently, India meets 88 per cent of crude oil and 51 per cent of natural gas needs through imports, highlighting the strategic importance of international upstream collaborations.
Industry analysts said the Abu Dhabi discovery could further strengthen India’s energy footprint globally, enhancing supply security and providing opportunities for technological knowledge exchange in oil exploration and production.
The UBPL find signals India’s growing role in international upstream markets and underscores the country’s efforts to balance rising domestic demand with energy diversification and security.
