Bharat Petroresources Ltd (BPRL) and Videocon Industries Ltd. (VIL) through their 50:50 joint venture company in Brazil, IBV Brasil Petroleo Ltd. (IBV Brasil), formed by their foreign subsidiaries, currently holds Participating Interest (PI) in 6 deepwater blocks, spread across three concessions, offshore Brazil i.e. Campos Basin (BM-C-30), Sergipe Alagoas Basin (BM-SEAL-11) and Potiguar Basin (BM-POT-16).
Five discovered fields are Barra, Farfan, Cumbe, Wahoo, Ararauna, Poco Verde across the three different Oil and Natural Gas basins offshore Brazil.
The results to date of the Drill-Stem Testing (DST) program in Wahoo, Farfan, Barra demonstrate outstanding flow characteristics of the reservoirs. So far the consortium has drilled 22 wells across the four concessions offshore Brazil.
- BM-SEAL-11 concession, Sergipe Alagoas Basin
-IBV Brazil currently has 40% PI in BM-SEAL-11 concession, comprising 3 blocks (SEAL-M-349, SEAL-M-426 and SEAL-M-497). M/s Petrobras is the Operator with 60 % PI in this concession. During the exploration periods, 4 discoveries of Oil & Gas i.e. ‘Barra’, ‘Farfan’, ‘Cumbe’ and ‘Barra#1’ have been made in this concession. Presently, the consortium is carrying out activities in four appraisal plans. ANP has approved the request for equalization & extension of deadlines of all the appraisal plans in BM-SEAL-11 to end of 2020.
-Petrobras has undertaken Project “SERGIPE DEEP WATER” with a goal to boost Sergipe Project economic viability. This project is involving all Sergipe appraisal plans including those in BM-SEAL-11.
-BM-C-30 concession, Campos Basin
IBV Brazil has 25% PI in block C-M-101 block in BM-C-30 concession. M/s Anadarko is the Operator of the block with 30% PI and other partners are British Petroleum (25% PI) & Maersk Oil (20% PI). During the exploration period ‘Wahoo’ discovery have been made in this concession. After the completion of the exploratory periods in Nov 2010, the consortium has moved on to the Appraisal phase of the Wahoo discovery. ANP has approved the extension of Wahoo Appraisal Plan from September 30, 2015 to November 30, 2018.
-BM-POT-16 concession, Potiguar Basin IBV
-IBV Brazil has PI of 20% in 2 blocks (POT-M-663 and POT-M-760) of BM-POT-16 concession. M/s Petrobras is the Operator with PI of 30 %, other partners are Petrogal with 20% PI & British Petroleum with 30% PI. During the exploration period ‘Ararauna’ discovery have been made in this concession. After exploration phase ANP has approved Ararauna appraisal plan, covering both the blocks in BM-POT-16 concession.
-The concessions are located in water depths ranging from 800-2600m located in three different offshore Brazilian sedimentary basins in partnership with Petrobras & Anadarko Petroleum Corp.
-In 2008, BPRL made its first discovery in Wahoo-1 well in BM-C-30 concession of deepwater Campos Basin, launching one of the most important Oil discoveries in Campos basin. Subsequently, BPRL made successive 5 material Oil and Natural Gas discoveries at Upper Campanian & Lower Maastrichtian levels in BM-SEAL-11 Concession. In BM-POT-16, BPRL made another oil discovery in Ararauna well. In total, BPRL made 8 discoveries so far in Offshore Brazil.