Petrobras approved Final Investment Decision for SEAP-I oil & gas project in BM-SEAL-11 Concession, Brazil.
BPCL subsidiary IBV holds 40% stake in consortium with Petrobras as 60% operator.
Project involves P-81 FPSO vessel with 120k barrel oil and 10M m³ gas daily capacity.
IBV's total investment in project expected to be approximately USD 2.8 billion.