BPCL's Subsidiary BPRL to Transfer Golfinho-Atum Project Assets to Moz LNG1 AssetCo Limitada

Bharat Petroleum Corporation Ltd.'s subsidiary, BPRL, through its step-down wholly owned subsidiary, BPRL Ventures Mozambique BV, will transfer relevant Golfinho-Atum project assets to Moz LNG1 AssetCo Limitada. This transfer is part of a revised project structure proposed by the operator, TotalEnergies, which involves the incorporation of two new on-shore special purpose entities in Mozambique. BPRL Ventures Mozambique BV will hold 10% quotas in Moz HoldCo, which in turn will hold 100% quotas in AssetCo. The effective date for the transfer is expected to be towards the end of Quarter 2/Quarter 3 of FY 2025-26, with BPRL's share of the project level costs estimated at approximately USD 1,000 Million (approximately Rs.8,600 Crores assuming USD 1 = INR 86).