document: ANOC has awarded explo rights to Bharat Petroleum and Indian Oil Corp for Onshore Block 1, 6,162 sq km mostly onshore. The Indian coâs will hold a 100% stake during the 35-year E&P phase, ADNOC retaining a 60% back-in right during the production phase. Of note, Onshore Block 1 also covers the separate Ruwais Diyab unconventional gas block where Total is conducting an explo-appraisal phase targeting tight gas resources in the Diyab fm, which can then be followed by a 40-year production term.
summary: ANOC has awarded explo rights to Bharat Petroleum and Indian Oil Corp (100%) for Onshore Block 1 (6162kmÂ² mostly onshore. ADNOC retaining a 60% back-in right during the production phase. Of note, Onshore Block 1 also covers the separate Ruwais Diyab unconventional gas block where Total is conducting an explo-appraisal phase targeting tight gas resources in the Diyab fm, which can then be followed by a 40-year production term.