Bharat PetroResources (BPRL), a wholly-owned subsidiary of Bharat Petroleum, is producing about 55,000 barrels of oil per day and plans to scale output to about 130,000 barrels per day through its offshore projects in international waters, its Managing Director Vikas said on the sidelines of India Energy Week 2026.
Speaking during an interview at the event, Vikas said that BPRL’s current portfolio includes offshore assets in Mozambique and Brazil, which are serving as a learning ground for deepwater operations that could eventually be replicated in India under the government’s Samudra Manthan deepwater exploration mission.
“At present, we are producing around 55,000 barrels of oil per day with a topline of about ₹12,000 crore,” he said, adding that the company’s overseas offshore projects would help build operational and technical capabilities for future domestic deepwater development.
He said that while India’s onshore supply chain for exploration and production is largely in place, the offshore and deepwater segment remains almost entirely import-dependent. Drawing on BPRL’s experience in countries such as Brazil, Qatar, Norway and Saudi Arabia, he said India needs to develop a reliable domestic supply chain for offshore operations.
He noted that while India has manufacturing capabilities, certification processes for offshore equipment are largely located overseas, requiring suppliers to seek approvals abroad. “At least for the offshore part, the certification ecosystem is not available in India. That is something we need to build domestically,” he said.
He also highlighted the role of procurement as a strategic lever, calling for public sector undertakings to pool their purchasing power across upstream, midstream and downstream segments to support domestic manufacturing and services.
Providing an example, he pointed to floating production, storage and offloading units (FPSOs), estimating that India could require around 40–50 FPSOs over the next decade. Each FPSO costs about $2 billion, translating into a potential investment opportunity of roughly $80–100 billion.
“Even if India captures 10–15 per cent of this market, it could translate into about $10 billion of ‘Make in India’ opportunities over the next 10 years,” he said, noting that countries such as China, Singapore and Taiwan currently dominate the segment.
Vikas said that BPRL remains open to expanding across geographies, with an existing presence in Russia, Mozambique, Brazil, Abu Dhabi and Indonesia, while reiterating that India remains the most important geography for the company’s long-term strategy.
