Videocon through its subsidiary and an Indian Government controlled Bharat Petroleum Corporation Limited, through its overseas subsidiary BPRL Ventures B.V, ("BPRL") have interests in the following four Petroleum Concessions comprising of ten Exploration Blocks, in Brazil Offshore on a 50 : 50 basis, held by IBV Brasil Petroleo Limitada, a company incorporated under the laws of Brazil. Of these blocks, discoveries have been made in Campos, Sergipe and Espirito Santos Concessions: In Campos Wahoo #1 Exploration Well in September 2008, Wahoo # 2 Appraisal-cum-Exploration Well in November 2009, and subsequently the 3rd exploration well Wahoo #3 (South) drilled into the Pre-salt, in the Wahoo Main Structure which also struck oil columns below the pre-salt;
In Sergipe Barra, a wildcat well drilled in SEAL-M-426 Block in September 2011, encountered hydrocarbons in good reservoir quality sand in the Maastrichtian formation. Further, a Drill Stem test over the entire Maastrichtian interval confirmed excellent porosity in the reservoirs located between 5,050m and 5400m with 430 API oil in the superior interval and 32o API oil in the inferior interval. In August 2012, Barra Appraisal Well 3-SES-165 encountered oil accumulation in the wildcat well, and the extent of the sandstone reservoir continuity to the southeast of oil reservoirs with bottom section distributed in the interval of 5460 to 5500 mtrs., where the saturation of Light Oil found of 38o API in the new discovery area. In Espirito Santo: A Pre-salt Well 'Serpa' drilled in Block ES-M-588 in Espirito Santos Concession, reported a discovery but poor permeability prevents hydrocarbons from being commercially exploited. In July 2012 Exploration Well 1-ESS-209 (also known as Grana Padano) was successfully drilled up to a depth of 2973 meters, in a water depth of 1208 meters by the consortium. In the Albian Sao Mateus formation, an oil column of more than 30 meters ( 15oAPI) between 2020-2059 meters, was established based on logs recorded, lithology's recovered and by MDT sampling.
BM-C-30 Campos Concession:
Located offshore the Rio de Janeiro and Espirito Santo States covering 716 km2. 130 Km Offshore, in 1,400 to 1,800m water depth in prolific Campos Basin.BM-C-30 Block is in the vicinity of several world Class Fields such as Roncador, Albacora and Baleia-Jubarte-Cachalote having estimated reserves of more than 5 billion bbls.
BM-SEAL-11 Sergipe Concession:
Sergipe Basin is Located in the North-Eastern offshore of Brazilian Basin. The Concession has 4 blocks and covers an area of 2,831 km2. The blocks are east of significant light oil discoveries, including the Piranema field.
BM-ES-24 and ES-24A Concessions:
Located along the Brazilian Continental Margin, extending from the central-southern part of Espirito Santos State to the southern part of Bahia State. The concession Blocks cover an area of 1645km2.
BM-POT-16 Potiguar Concession:
Potiguar Basin is Located in the North-eastern region of Brazil and lies partly onshore and offshore over most of the Rio Grande do Norte State. The Concession is located close to existing light oil fields and the Exploration targets are in Tertiary and Cretaceous age turbidites in Stratigraphic and Strati-Structural traps. Deepwater portion of this basin is virtually unexplored.