Brazilian state-owned energy giant Petrobras is exploring opportunities in India’s deepwater and ultra-deepwater blocks, signaling a push toward untapped offshore frontiers. This announcement coincides with the launch of India’s 10th Open Acreage Licensing Policy (OALP) bid round, as revealed by India’s Minister of Petroleum & Natural Gas, Hardeep Singh Puri, during India Energy Week 2025 in New Delhi.
Petrobras CEO, Magda Chambriard, expressed optimism about India’s hydrocarbon potential. “We will carefully evaluate these opportunities, always looking for new production frontiers, which will guarantee us security and financing for the energy transition,” she stated, as quoted by Argus.
Strategic Partnership with Oil India (OIL)
As part of a Memorandum of Understanding (MoU) signed during the event, Petrobras is teaming up with India’s state-owned Oil India (OIL) to collaborate on upstream ventures. The partnership will focus on exploring and developing offshore basins such as the Mahanadi, Andaman, and other sedimentary basins, aiming to capitalize on India’s untapped hydrocarbon resources.
This collaboration aligns with India’s Hydrocarbon Exploration and Licensing Policy (HELP) and the OALP initiative, both aimed at accelerating exploration activities in the region. Oil India Limited (OIL) lauded the partnership as a milestone in India-Brazil bilateral energy cooperation.
Energy Trade and Transition Plans
Beyond exploration, Petrobras is also keen to bolster trade relations with Indian oil companies, looking to buy and sell petroleum products while working together on energy transition initiatives. These efforts reflect a broader strategic alignment between the two nations to foster global energy security and sustainable growth.
With India unveiling details of the latest acreage offerings, Petrobras’ interest highlights the growing global focus on India’s deepwater oil and gas plays.
