BM-SEAL-11 Concession Brazil - Final Investment Decision

On 13th April 2026, Petrobras, Operator of the BM-SEAL-11 Consortium, 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 Petróleo 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.

Shares of Bharat Petroleum Corporation Limited was last trading in BSE at Rs. 310.25 as compared to the previous close of Rs. 292.65. The total number of shares traded during the day was 920157 in over 13207 trades.

The stock hit an intraday high of Rs. 311.40 and intraday low of 299.00. The net turnover during the day was Rs. 281402473.00.

Source : Equity Bulls

Keywords

BharatPetroleumCorporation INE029A01011 BPCL Petrobras BMSEAL11 Brazil