Petrobras signs contract for FPSO unit

On 29th May 2026, Petrobras, Operator of the BM-SEAL-11 Consortium, has signed the contract for the construction of Floating Production Storage and Offloading (FPSO) unit, on behalf of the Consortium, with SBM Offshore for the SEAP-I Project which encompasses development of oil & gas discovered in BM-SEAL-11 and BM-SEAL-10 Concessions in Brazil.

Bharat Petroleum Corporation Limited (BPCL), through its wholly owned subsidiary BPRL and its step down subsidiaries, holds a 65.4% stake in IBV Brasil Petroleo LTDA (IBV). IBV, in turn, holds 40% participating interest in the BM Seal 11 concession, with Petrobas acting as the operator and holding the remaining 60% participating interest.

The FPSO contract is structured under a Build, Operate and Transfer (BOT) model, where in SBM Offshore will design, build and undertake the operation of the FPSO for an initial period of 6.5 years, through separate operation and maintenance contract. The FPSO will have an installed capacity to process 120 thousand barrels of oil/condensate per day and 10 million m³ of gas per day.

The project has the potential to provide access to equity oil to IBV for it's share 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, subject to Government of India approvals.

Shares of Bharat Petroleum Corporation Limited was last trading in BSE at Rs. 292.20 as compared to the previous close of Rs. 294.50. The total number of shares traded during the day was 261656 in over 7699 trades.

The stock hit an intraday high of Rs. 294.25 and intraday low of 290.20. The net turnover during the day was Rs. 76476548.00.

Source : Equity Bulls

Keywords

BharatPetroleumCorporation INE029A01011 BPCL