Indian firm seeks oil and gas assets in Nigeria, Brazil, others

 

Barnali Tokhi, managing director of India's Bharat PetroResources Limited, the exploration arm of refiner Bharat Petroleum Corp is looking for oil and gas producing assets in Nigeria, Brazil and other West African countries.

"We are looking at Brazil and the Atlantic area, which is Brazil's offshore and west Africa," she said, adding that Nigeria, Angola, Ivory Coast, offshore and Senegal are good prospects.

Tokhi said there were some interesting projects in Brazil, operated by companies other than Petrobras. The Indian refiner currently has stakes in oil gas projects in Brazil, Mozambique, Russia, UAE and Indonesia.

BPCL, which has 10 per cent stake in the gas fields in the Rovuma Area-1 Offshore Mozambique, has agreed to buy 1 million metric tons of LNG per year from the project.

Tokhi also added that the company would buy more LNG from the project when new trains come on stream.