{"id":266398,"date":"2019-03-26T06:21:04","date_gmt":"2019-03-26T06:21:04","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=266398"},"modified":"2019-03-26T06:21:04","modified_gmt":"2019-03-26T06:21:04","slug":"bharat-petroleum-indian-oil-corp-bag-onshore-exploration-rights-from-uaes-adnoc","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bharat-petroleum-indian-oil-corp-bag-onshore-exploration-rights-from-uaes-adnoc\/","title":{"rendered":"Bharat Petroleum, Indian Oil Corp bag onshore exploration rights from UAE\u2019s ADNOC"},"content":{"rendered":"<p>Abu Dhabi National Oil Company (ADNOC) said on Monday it had signed an agreement with an Indian consortium awarding the latter the exploration rights for an onshore block. Two Indian companies \u2013 Bharat Petroleum Corp Ltd and Indian Oil Corp \u2013 will together hold a 100 per cent stake in the exploration phase for Onshore Block 1, ADNOC said in a statement.<\/p>\n<p>The Indian firms will invest up to 626 million dirhams ($170 million), including a participation fee, to explore and appraise oil and gas in the block. If successful, the consortium will be able to develop and produce any discoveries with an option for ADNOC to hold a 60 per cent stake in the production phase. The agreements, which have a term of 35 years, conclude Abu Dhabi\u2019s first-ever competitive block bid round, ADNOC said.<\/p>\n<p>\u201cThe onshore exploration block awarded to the Indian consortium will target, specifically, the conventional oil and gas opportunities in the area,\u201d ADNOC said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abu Dhabi National Oil Company (ADNOC) said on Monday it had signed an agreement with an Indian consortium awarding the latter the exploration rights for an onshore block. Two Indian companies \u2013 Bharat Petroleum Corp Ltd and Indian Oil Corp \u2013 will together hold a 100 per cent stake in the exploration phase for Onshore Block 1, ADNOC said in a statement. The Indian firms will invest up to 626 million dirhams ($170 million), including a participation fee, to explore and appraise oil and gas in the block. If successful, the consortium will be able to develop and produce any [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-266398","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/266398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=266398"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/266398\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=266398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=266398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=266398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}