Indian OVL's Brazilian project enters development phase
ONGC Videsh (OVL), the overseas arm of Indian state-run energy company ONGC, on January 24 said its Brazilian gas project had entered into the development stage with the submission of a declaration of commerciality.
The company had registered a “major” gas discovery in 2019 in the deep offshore block BM-SEAL-4, located in the Sergipe Alagoas basin. Petrobras is the operator of the block with 75% participating interest and OVL holds 25%.
The block development module of Petrobras envisages the installation of a shared FPSO and a gas pipeline, OVL said. The development module is in the contract planning phase and is expected to start production after 2026.