India allows Bharat PetroResources to invest extra $1.6 bln in Brazil oil project -Reuters

Reporting by Nidhi Verma

NEW DELHI
EnergiesNet.com 07 27 2022

India’s cabinet has approved an additional investment of $1.6 bln by Bharat PetroResource’s Ltd (BPRL) in an oil project in Brazil, a government statement said on Wednesday.

BPRL, the exploration arm of state-run Bharat Petroleum Corp (BPCL.NS), holds 40% stake in BM-SEAL-11 project, while the remainder is held by Brazil’s national oil company Petrobras(PETR4.SA).

Oil production from the block is expected from 2026/27, the statement said.

Reporting by Nidhi Verma

reuters.com 07 27 2022

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