Petrobras Eyes Auction in India and Strengthens Energy Partnership with the Asian Country

Written by Andriely Medeiros de Araújo

Published on 08/07/2025 at 18:02

Petrobras reafirma interesse em participar do maior leilão de óleo e gás da Índia. Iniciativa fortalece parcerias estratégicas e amplia presença internacional da estatal. Fonte: IA

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Petrobras Reaffirms Interest in Participating in India’s Largest Oil and Gas Auction. Initiative Strengthens Strategic Partnerships and Expands State-Owned Company’s International Presence.

The Petrobras announced on Monday (7) that it intends to participate in the 10th Round of bidding for oil and gas blocks in India, the largest ever held by the Asian country. The auction will offer 25 blocks spread over 13 sedimentary basins, including areas on land, shallow waters, and ultra-deep waters.

The initiative is part of the OALP (Open Acreage Licensing Policy) program, created by the Indian government to attract foreign investments and bolster its energy security.

The information was disclosed during the Brazil-India Economic Forum in Rio de Janeiro, an event that takes place concurrently with the BRICS Summit.

ARTICLE CONTINUES BELOW

Auction in India Attracts Petrobras’ Attention Due to Strategic Alignment

According to Vervloet, the 10th round represents a unique opportunity to deepen the relationship between Brazil and India in the energy sector.

Petrobras Reaffirms Interest in Participating in India's Largest Oil and Gas Auction. Initiative Strengthens Strategic Partnerships and Expands State-Owned Company's International Presence. — Petrobras Reaffirms Interest in Participating in India’s Largest Oil and Gas Auction. Initiative Strengthens Strategic Partnerships and Expands State-Owned Company’s International Presence. Source: Filipe Araujo / MinC

“This initiative, the largest ever conducted by India in terms of offered areas, represents an opportunity to reinforce the Brazil-India partnership in the energy sector, for Petrobras to generate value aligned with its long-term strategy,” said the executive.

The auction includes six land blocks, six in shallow waters, one in deep waters, and 12 in ultra-deep waters — totaling more than 190,000 km² in exploratory areas.

Agreements with Indian Companies Strengthen Energy Bonds

The Petrobras interest in India is the result of a broader movement of rapprochement with the Asian country.

In February, the Brazilian state-owned enterprise signed memorandums of understanding with ONGC (Oil and Natural Gas Corporation) and Oil India, aiming for partnerships in exploration, production, and energy transition.

In addition, it signed a contract with the state-owned BPCL (Bharat Petroleum Corporation Limited) to export up to 6 million barrels of oil per year, starting in 2025.

These actions strengthen Petrobras’ international presence and help diversify its operations in strategic markets.

India Seeks to Reduce Dependency on Imported Oil

India is one of the largest oil consumers in the world and relies on imports for about 85% of its domestic demand. Therefore, the Indian government has invested in measures to attract global companies to the exploration sector.

Petrobras views India as a strategic partner in this context. Vervloet highlighted that both countries face similar challenges, such as regional inequalities and the need to expand access to energy. “Like India, we have significant disparities in terms of regional development. Energy is the foundation of that development,” he said.

Project in Sergipe Remains under Review and without a Defined Timeline

While strengthening ties with India, Petrobras is still reviewing the Sergipe Deep Waters (SEAP) project, developed in partnership with Indian companies.

The state-owned company reported that the plan is undergoing simplification due to the decline in international oil prices in 2025.

The project envisions the installation of two FPSOs (floating production units) with the capacity to process 240,000 barrels per day and up to 22 million m³ of natural gas.

Petrobras’ partners in SEAP include ONGC Videsh and IBV, a joint venture formed by BPCL and Videocon Industries.

For now, there is no set date for the start of production.

Source

Petrobras Eyes Auction in India and Strengthens Energy Partnership with the Asian Country

Petrobras Reaffirms Interest in Participating in India’s Largest Oil and Gas Auction. Initiative Strengthens Strategic Partnerships and Expands State-Owned Company’s International Presence.

Auction in India Attracts Petrobras’ Attention Due to Strategic Alignment

Agreements with Indian Companies Strengthen Energy Bonds

India Seeks to Reduce Dependency on Imported Oil

Project in Sergipe Remains under Review and without a Defined Timeline

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Petrobras Eyes Auction in India and Strengthens Energy Partnership with the Asian Country

Petrobras Reaffirms Interest in Participating in India’s Largest Oil and Gas Auction. Initiative Strengthens Strategic Partnerships and Expands State-Owned Company’s International Presence.

Auction in India Attracts Petrobras’ Attention Due to Strategic Alignment

Agreements with Indian Companies Strengthen Energy Bonds

India Seeks to Reduce Dependency on Imported Oil

Project in Sergipe Remains under Review and without a Defined Timeline

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Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

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While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

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