Bharat Petroleum Corporation Limited’s (BPCL) Kochi Refinery received the first parcel of its crude oil, marking a step towards enhancing the country’s energy security.
The parcel is part of the equity crude oil cargo of Bharat Petro Resources Limited (BPRL), a wholly-owned subsidiary of BPCL, which aims to provide partial supply security of crude and hedging of price risks.
This is the first delivery of BPRL to the parent company.
At a function at the control room of BPCL shore tank farm at Puthuvypeen, M Beena, Chairperson, Cochin Port Trust switched on the pumping of the BPCL Own Crude Oil in the presence of Ajay Kumar, Managing Director, BPRL and Prasad K Panicker, Executive Director (Kochi Refinery).
The vessel contained Das blend crude oil from Lower Zakum Concession from the loading terminal at Das Island operated by Abu Dhabi National Oil Company (ADNOC) Offshore.
In July, approximately 1 million barrels of BPRL’s share of equity crude oil from the Lower Zakum Concession was lifted by Bharat Oman Refineries Ltd.
BPRL has participating interest in 25 blocks spread across eight countries along with equity stake in two Russian entities operating four producing assets.
BPRL along with ONGC Videsh and Indian Oil Corporation Limited, as the Indian consortium have been awarded 10 per cent stake in Lower Zakum Concession. The 40-year concession is effective from March 9.
The current production of this field is approximately 400,000 bopd and the Indian consortium’s annual share will be about 2 mt a year with BPRL’s share of equity oil being approximately 12,000 bopd.