State-run oil marketer Bharat Petroleum Corporation’s (BPCL), wholly-owned subsidiary Bharat PetroResources (BPRL) is likely to drill 16 wells by this fiscal-end. It also aims of making further discoveries in its blocks in the country, as well as overseas.
BPRL today has 27 blocks, out of which nine are acquired by the company under different rounds of the New Exploration Licensing Policy (NELP) is located within the country and 18 are abroad, spanning six countries. With 27 exploration blocks spread over seven countries, the strategy going forward will be to consolidate their position in these blocks and basins. In 2010-11, the company made discoveries in Brazil, Mozambique and Indonesia. It has also discovered natural gas in four of six wells drilled in Mozambique, besides light hydrocarbons in offshore Brazil and oil and gas in Indonesia.
Other than India, BPRL holds blocks in Australia, Brazil, East Timor, Indonesia, Mozambique and Britain. BPRL's total acreage in all these blocks is around 81,000 sq km, of which around 90% are offshore acreages. These blocks are in various stages of exploration.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1365.10 |
| Indian Oil Corp. | 145.85 |
| BPCL | 312.05 |
| HPCL | 370.95 |
| MRPL | 183.20 |
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