State Bank of India is soliciting bids for non-Indian oil and gas assets of financially beleaguered conglomerate Videocon Industries, Mumbai.
It appointed Deloitte to seek buyers for properties in Brazil and Indonesia.
In Brazil, a Videocon subsidiary holds varying interests in five offshore concessions through its half interest in a joint venture with Bharat Petroleum Corp. Ltd. called IBV Brasil Petroleo Ltda.
The concessions are BM-C-30 Campos, BM-SEAL-11 Sergipe, BM-ES-24 and ES-24A off Espirito Santos and Bahia states, and BM-POT-16 Potiguar.
Discoveries have been made in three of the Brazilian concession areas.
In Indonesia, Videocon holds a 12.5% working interest in the Nunukan production sharing contract in the Tarakan basin off northeastern Kalimantan.