BPCL Brazil Offshore Project Receives Petrobras Approval for 120,000 BPD Output

Bharat Petroleum Corporation Ltd has received official approval from Petrobras for its Brazil offshore project, marking a significant milestone in the BM-SEAL-11 concession development. The project operator Petrobras has cleared the offshore venture with BPCL, confirming the planned production capacity and operational framework for the strategic energy investment.

Project Approval and Production Specifications

Petrobras has officially approved the offshore project collaboration with BPCL in Brazil's BM-SEAL-11 concession. The project features substantial production targets designed to enhance energy security and provide significant returns on the multi-billion dollar investment.

Parameter:	Details
Concession:	BM-SEAL-11, Brazil
Operator:	Petrobras
Planned Oil Output:	120,000 barrels per day
Planned Gas Output:	10 million m³ per day
Production Vessel:	P-81 FPSO
Project Status:	Approved by Petrobras

Ownership Structure and Investment Framework

The Brazilian venture operates through IBV Brasil Petróleo Ltda, where BPCL maintains a significant indirect presence through its subsidiary structure. The project represents a major international energy partnership with substantial financial commitments from all stakeholders.

Ownership Details:	Stake/Investment
BPCL's Stake in IBV:	65.40%
IBV's Project Interest:	40%
Petrobras Interest:	60%
Total Investment:	USD 2.80 billion
Operating Entity:	IBV Brasil Petróleo Ltda

Strategic Energy Security Impact

The approved Brazil offshore project significantly strengthens India's energy security framework through access to equity oil and gas resources. With planned production of 120,000 barrels per day of oil and 10 million m³ of gas daily, the project provides substantial energy supply diversification for India's growing domestic demand.

Production Infrastructure and Timeline

The P-81 FPSO vessel will serve as the primary production infrastructure for the BM-SEAL-11 concession, representing advanced offshore technology capable of handling the projected production volumes. The Petrobras approval moves the project closer to active development phase, with the FPSO contract signing expected as the next critical milestone in the operational timeline.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.35%	+4.96%	+2.34%	-7.09%	+4.47%	+50.85%

Bharat Petroleum Corporation Limited has announced that its Chairman & Managing Director Sanjay Khanna will take on additional responsibilities as Director (Refineries), following a directive from the Ministry of Petroleum & Natural Gas.

Management Restructuring Details

The appointment was formalized through a letter from the Ministry of Petroleum & Natural Gas dated April 16, 2026. This development represents a consolidation of senior management roles within the state-owned oil refining and marketing company.

Parameter:	Details
Position:	Additional Charge of Director (Refineries)
Appointee:	Sanjay Khanna
Current Role:	Chairman & Managing Director
Appointing Authority:	Ministry of Petroleum & Natural Gas
Effective Date:	April 16, 2026

Regulatory Compliance

The company has duly informed both major stock exchanges about this management change in accordance with regulatory requirements. The notification was sent to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Communication

The formal communication was signed by Company Secretary V. Kala and digitally authenticated on April 16, 2026. This ensures proper documentation and transparency in corporate governance practices as required for listed companies.

The dual role assignment reflects the company's organizational strategy to streamline senior management functions under experienced leadership, particularly in the critical refineries operations segment.