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Exploration

Bharat PetroResources Limited (BPRL) – BPCL’s Exploration & Production company

Entry into Upstream :

BPCL entered the Upstream sector in 2003 with the aspirations of providing partial supply security of crude, hedging of price risks, to become a vertically integrated oil company and to add to the company’s bottomline.

Creation of BPRL :
Considering the need for a focused approach for E&P activities and implementation of the investment plans of BPCL at a quicker pace, a wholly owned subsidiary company of BPCL, by the name Bharat PetroResources Limited (BPRL) was incorporated in October 2006, with the objective of carrying out Exploration and Production activities.

BPRL’s Corporate Vision :
BPRL’s vision is to become a recognized player in the upstream sector: This is planned to be achieved by early monetization of discoveries, having a balanced portfolio of assets and becoming a full fledged Operator.

BPRL’s Corporate Mission :
BPRL has chosen the following Corporate Mission for itself :

  1. To develop core competence in Exploration and Production of oil and gas with focus on production.
  2. To maximize wealth creation for meeting expectations of stakeholders
  3. To create a pool of knowledgeable and inspired employees and ensure their professional and personal growth

As of 1st September 2014, the company has participating interests in 19 exploration blocks; in consortium with other companies. Of the blocks, 8 blocks are in India, 7 in Brazil, and 1 each in Mozambique, Indonesia. Australia and East Timor and. BPRL’s total acreage holding is around 25,000 sqkm of which about 88% is offshore acreage.

BPRL’s Global presence and Discoveries (1st Sep 2014) :

BPRL’s current Assets :

Sr No Basin/ Block Partners (Operator in Bold) BPRL's PI Block Type
 
Brazil:
1 Sergipe Alagoas (4 blocks) Petrobras ; IBV Brasil* 20.0% Offshore
2 Campos ( 1 block) Anadarko ; IBV Brasil ;BP; Maersk 12.5% Offshore
3 Potiguar (2 blocks) Petrobras;  IBV Brasil; BP; Maersk 10.0% Offshore
 
Australia & East Timor :
1 EP - 413 Norwest Energy NL; BPRL; ARC Energy Limited 27.80% Onland
2 JPDA 06-103 Oilex ; Japan Energy; Videocon ; GSPC; BPRL ; Pan Pacific Petroleum. 20% Offshore
 
Other Foreign Blocks :
1 Rovuma/ Offshore Area 1 (Mozambique) Anadarko ; Mitsui; ENH; BREML; BPRL; PTTEP, OVL 10% Offshore
2 Nunukan PSC (Indonesia) Pertamina;  MEDCO;  BPRL; Videocon. 12.50% Offshore
 
India
1 CY-ONN-2002/2 ONGC; BPRL. 40% Onland
2 CY-ONN-2004/1 ONGC; BPRL. 20% Onland
3 CY-ONN-2004/2 ONGC;   BPRL. 20% Onland
4 RJ-ONN-2005/1

HOEC;   BPRL;  IMC. 33.33% Onland
5 CB-ONN-2010/11 GAIL, BPRL, EIL, Bharat Forge, Monet Ispat & Energy 25% Onland
6 AA-ONN-2010/3 OIL, ONGC, BPRL 20% Onland
7 CB-ONN-2010/8 BPRL, GAIL, EIL, Monet Ispat, Bharat Forge 25% Onland
8 MB-OSN-2010/2

OIL, BPRL, HPCL 20% Offshore
*IBV Brasil is a 50-50 JV of BPRL’s subsidiary and Videocon Industries Limited

All the above blocks are in various stages of Exploration/appraisal.

Discoveries :
Till early September 2014, BPRL has a total of 18 discoveries : 9 in Mozambique, 5 in Brazil and 2 in India, and 1 each in Indonesia and Australia. Reserve certification of these discoveries is yet to be done. In Mozambique, till date, the Operator has declared 50 to 70+ trillion cubic feet of recoverable natural gas resources. In Brazil, there have been hydrocarbon discoveries in two basins – Campos and Sergipe Alagos. In India, oil has been discovered in an onland block in the Cauvery basin. DGH has approved the Appraisal Plan and action has been initiated towards appraisal.

Shale Gas :
BPRL entered into the arena of Shale Gas in 2010 with acquisition of interest in a block with shale gas potential in the Perth basin in Australia. A well has been drilled in this block and core results are positive. Hydraulic fracturing and extended flowback of this well are over, with hydrocarbon shows in all the five targeted zones. As of early September 2014, assessment is in progress.

Operatorship :
BPRL has become the Lead operator in an onland block in India and is also the joint operator in two onland blocks in India.

Investments:
BPRL has so far invested around USD 1.3 billion for its projects, with commitments in excess of USD 1.5 billion. The total cumulative outlay till end 2015-16 is to the tune of USD 2.2 billion.

Special Purpose Vehicles (SPVs) :
To effectively manage some of its overseas assets, BPRL has incorporated subsidiaries / SPVs in Brazil and in the Netherlands.

Workstation :
BPRL has equipped itself with a state of the art Workstation and interpretation software for study of geoscientific data and has also engaged experienced geoscientists to carry out this work.

BPRL today has reached a mature and healthy place in its business cycle and is poised to contribute significantly to its parent company in due course. In the months and years to come it has clearly identified a niche for itself to move ahead, and is committed to play a key role in BPCL’s Upstream aspirations.

Contact us:
Bharat PetroResources Limited
‘E’ Wing, 9th Floor, Maker Towers,
Cuffe Parade
Mumbai 400 005,
India
Phone : +91 22 22175600

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