A shipload of Das blend crude oil reached New Mangalore port, the company said in a statement.
The Das blend crude oil originates from the Lower Zakum (LZ) oilfield in Abu Dhabi, which currently produces approximately 400,000 barrels per day.
Other shareholders in the LZ concession are Abu Dhabi National Oil Co (60 per cent), CNPC and JODCO (10 per cent each) and TOTAL and ENI (5 per cent each).
"It was the first time that Indian oil and gas companies have been given a stake in the development of Abu Dhabi's hydrocarbon resources and the agreements were signed in Abu Dhabi on February 10, 2018," the statement said.
The commencement date of the concession agreement was from March 9, 2018 and is for a period of 40 years.
"This first equity cargo of 6,90,000 barrels which was loaded onto the vessel MT Wafrah on June 2, 2018, was sold by OVL for refining to Mangalore Refinery and Petrochemicals Ltd (MRPL), an ONGC Group company in the downstream business which operates one of India's most modern and complex refineries," it said.
Das blend crude with 39.200 API is best positioned among the OVL portfolio of equity crudes to flow to India. It is a grade of crude which is regularly bought by several Indian refiners. Also the shipping distance/voyage time to the west coast is short and can be lifted in a wide range of parcel sizes.
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