Petrobras to cooperate with Indian, UK firms

Bharat Petroleum Corp. signed a memorandum of understanding with Brazil's state-owned Petroleo Brasileiro SA and Foresight Oil Ltd. of the UK to cooperate in upstream, midstream, and downstream activities in India, Brazil, and elsewhere.

March 31, 2006

Peter Howard Wertheim
OGJ Correspondent

RIO DE JANEIRO, Mar. 31 -- Bharat Petroleum Corp. Ltd. (BPCL) signed a memorandum of understanding with Brazil's state-owned Petroleo Brasileiro SA and Foresight Oil Ltd. of the UK to cooperate in upstream, midstream, and downstream activities in India, Brazil, and elsewhere.

BPCL said it would participate with Petrobras and Foresight on blocks offered in the sixth round of India's New Exploration Licensing Policy bidding.