The Cabinet Committee on Economic Affairs has approved additional investment of USD 1,600 million (about Rs. 12,000 crore) by Bharat Petro Resources Ltd. (BPRL) for development of BM-SEAL-11 Concession Project in Brazil.
- The start of production from BM-SEAL-11 project is expected from 2026-27. Multiple oil discoveries have been made in the block, which is being developed now.
- BPRL is a wholly owned subsidiary of Bharat Petroleum Corporation Limited (BPCL)
- It will help strengthen India’s energy security. Besides, diversifying the country’s crude oil supply.
