News: Cabinet Committee on Economic Affairs has approved additional investment of upto US$ 1.6 billion by Bharat PetroResources Ltd.(BPRL), a wholly owned subsidiary of BPCL for development of BM-SEAL-11 Concession Project in Brazil.
Views: BPRL has a 40% participating interest in the Brazilian block which is expected to start production in 2026-27. BPRL has made cumulative investment of US$ 976 million in the block till end of FY22. The project has the potential to provide access to good quality equity oil.
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