Bharat PetroResources, a subsidiary of Bharat Petroleum Corporation Ltd, has again struck oil and gas in the ultra deep waters of Brazil.
The oil and gas find was struck while drilling of the first appraisal well Farfan 1. The well is located in BM-Seal 11 concession area, Sergipe basin.
BPCL in a BSE statement said the well is undergoing drilling operation, after which a drill stem test would be carried out to confirm the flow potential of the reservoir. The well is at a water depth of 2,476 metres and located 104 km from Aracaju, northeastern Brazil.
The results obtained in this well confirm the extension of the light oil reservoirs that were previously discovered in the Farfan well, the statement said.
The operator of the well and BM-Seal 11 concession area is Petrobras, the Brazilian multinational energy corporation. In the concession, Petrobras holds 60 interest while the rest is held by IBV Brazil, a 50:50 joint venture of Bharat PetroResources and Videocon Industries.