An OVL-led group will team up with ADNOC with a 10% stake in the offshore Lower Zakum concession-to-be, the 1st Indian involvement in the Emirates. The group comprises OVL, Indian Oil Corp + Bharat Petro Resources. Signature bonus was USD 600 MM. The Concession will have a 40-year term to be effective 9 Mar â18. ADNOC is still seeking to offload a further 30% in the 400,000 bo/d concession. 
An OVL-led group will team up with ADNOC with a 10% stake in the offshore Lower Zakum concession-to-be, the 1st Indian involvement in the Emirates. The group comprises OVL, Indian Oil Corp + Bharat Petro Resources. 