Private Equity Other Private Equity/Strategic Investments
BPCL arm to invest $2.8 B in Brazil’s Petrobras-operated oil & gas project
Source Petrobras (opens in a new tab)Business Standard (opens in a new tab)
Mumbai-headquartered Bharat Petro Resources Ltd (BPRL), a subsidiary of state-run Bharat Petroleum Corporation Ltd (BPCL), is to invest about USD 2.8 Billion in a Brazil-based oil and gas project operated by Brazil's state-run Petrobras .The investment targets the SEAP-I project, which involves the development of oil and gas discoveries within the BM-SEAL-11 concession in Brazil.Operational plans for the SEAP-I project include a floating production, storage and offloading vessel, designed with the capacity to produce 120 thousand barrels of oil and condensate and process 10 million cubic metres of gas per day.