BPCL`s Intimation on BM-SEAL-11 concession, Brazil: Operator takes FID
16th April 2026
In terms of Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, Bharat Petroleum Corporation Limited (BPCL) has informed the Stock Exchanges that Petrobras, Operator of the BM-SEAL-11 Consortium, has approved the Final Investment Decision (FID) for the SEAP-I Project which encompasses development of oil & gas discovered in BM-SEAL-11 Concession in Brazil
IBV Brasil Petroleo Ltda. (IBV) - a company in which BPCL, through its wholly owned subsidiary Bharat PetroResources Ltd. (BPRL) and its step-down subsidiaries, holds a 65.40% equity stake-holds a 40% participating interest in the BM-SEAL-11 Concession, alongside Petrobras as the Operator with a 60% participating interest
A Floating Production Storage and Offloading vessel (P-81 FPSO) with the capacity to produce 120 thousand barrels of oil/condensate and to process 10 million m³ of gas per day is planned to serve the SEAP I project. The signing of the P-81 FPSO contract, marking another key milestone in the project, is expected shortly, subject to requisite approvals
The project has the potential to provide access to equity oil which will help in strengthening the energy security of the country. IBV's total investment in the project is expected to be ~ USD 2.8 Bn.