Indian Oil Share Price in Focus; Reports New Onshore Oil Discoveries in Abu Dhabi Block 1

Indian Oil Corporation Limited has announced fresh oil discoveries in Abu Dhabi’s Onshore Block 1 exploration concession, operated jointly with Bharat PetroResources Limited through a special purpose vehicle.

The findings include oil flows from two exploratory wells in different reservoirs, supporting continued appraisal and future development planning in the concession area.

Exploration Partnership In Abu Dhabi

Indian Oil Corporation and Bharat PetroResources Limited jointly operate the Onshore Block 1 concession in Abu Dhabi through Urja Bharat Pte Limited, a 50:50 special purpose vehicle. 

The concession was awarded during Abu Dhabi’s 2019 bid round, marking the companies’ expansion into international upstream operations.

Discovery In Shilaif Formation

The first oil discovery in the block was made in early 2024 in the unconventional Shilaif play through the XN-76 exploratory well. Following hydrofracking operations, the well produced light crude oil at the surface, confirming the presence of unconventional oil resources. The partners plan to assess the commercial viability of this find during the appraisal phase.

Oil Find In Habshan Reservoir

A second discovery was recorded during testing of the XN79-02S exploratory well, which flowed light crude oil from the Habshan reservoir. 

This marks the first oil discovery in this reservoir within the concession area. The companies intend to undertake further appraisal to evaluate development potential.

Development And Future Prospects

In addition to the recent discoveries, the partners are progressing plans to develop the existing Ruwais field and continue exploring other hydrocarbon prospects within the concession.

These activities form part of the broader strategy to strengthen international exploration and production capabilities.

Indian Oil Corporation Share Price Performance

Indian Oil Corporation Limited’s shares traded marginally lower in early trading on 14 January 2026. 

As of 09:32 AM, the stock was priced at ₹157.00, down ₹0.40 or 0.25% from the previous close of ₹157.40. 

The share opened at ₹157.00, reached an intraday high of ₹157.59, and touched a low of ₹156.09 during the session.

Conclusion

The oil discoveries in Abu Dhabi’s Onshore Block 1 represent continued progress in Indian Oil’s overseas exploration efforts. Ongoing appraisal and development planning will determine the commercial outlook of these finds, while market participants monitor further updates on international operations.

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