Bharat Petroleum Corporation Limited (BPCL) has announced that Petrobras, the operator of the BM-SEAL-11 consortium, approved the Final Investment Decision (FID) for the SEAP-I project in Brazil on April 13, 2026. BPCL will invest approximately $2.8 billion in the project, which is designed to enhance India's energy security by diversifying its oil supply sources. Petrobras holds a 60% participating interest in the consortium, while IBV Brasil Petroleo Ltda., in which BPCL has an indirect stake through its subsidiary Bharat PetroResources Ltd., owns the remaining 40%. The project will utilize a Floating Production Storage and Offloading (FPSO) vessel, P-81, with a planned production capacity of 120,000 barrels of oil or condensate per day and a gas processing capacity of 10 million cubic metres per day. The contract for the FPSO is expected to be signed soon, pending regulatory approvals. Following the announcement, BPCL's shares closed at ₹308, reflecting a decline of 0.73% on the Bombay Stock Exchange.