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Dec 12, 2012
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Videocon, BPCL joint venture finds oil off Brazilian coast
A consortium in which the wholly owned subsidiaries of Videocon Industries and Bharat Petroleum Corporation are members have completed the drilling of a second well in a block off Brazilian coast. According to a BSE announcement, the drilling confirmed the existence of oil and helped determine the extent of the reservoir. Discovery of hydrocarbons The discovery of hydrocarbons has been made in a block named BM-SEAL-11 in the sea where the water depth is close to 2.5 km, about 100 km off the coast of the city of Aracaju — in what is known as the Sergipe Basin — which was first announced in September 2011.
Source -
http://www.thehindubusinessline.com
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