BPCL inks MOU with Petrobras

Mumbai, Mar 29 (UNI) State-owned Bharat Petroleum Corporation Ltd (BPCL) today signed an MOU with Petroleo Brasileiro SA (Petrobras), a National Oil Company in Brazil and Foresight Oil Ltd (Foresight), UK for cooperation in Upstream.

Announcing this, BPCL said Midstream and Downstream activities of oil and gas sector in India&abroad with the immediate objective to bid for certain exploration blocks offered by Govt. of India under the NELP-VI round.

It has the knowledge and capabilities of operations in midstream and downstream of oil and gas sector. Also, BPCL is very keen to venture into upstream activities such as exploration and production of oil and gas.

Petrobras has the knowledge and capabilities to operate in the international exploration and production areas of oil and gas, especially in the field of deep water drilling. They have several deep water oil and gas producing fields in Brazil.

Foresight possesses certain unique knowledge, skill and technical expertise concerning Offshore Exploration, Drilling and also Shipping.

BPCL, Petrobras and Foresight in pursuing their objectives have set mutual understandings in areas of activity in the hydrocarbon sector. The areas of cooperation between the parties include future opportunities in the exploration &production in India, Brazil and any third country, if necessary, through a consortium with other companies.

The MOU also covers cooperation in the areas of midstream and downstream of oil and gas sector like setting up of city gas distribution network for domestic and industrial consumers, establishing CNG / Auto LPG dispensing facilities as automotive fuels, blending and marketing of lubricants, operation and maintenance of refining, transportation and marketing facilities etc.

UNI SN KD SKB2005