Darwin Platform Refineries (DPRL) Welcomes Banyan Investment Banking & Hedging Statutory Trust (BIBT) as Capital Financier for USD$6 Billion Deepwater Hydrocarbon Project

Mumbai, 15 September 2023 – Darwin Platform Refineries Limited (DPRL) is pleased to announce it has accepted Banyan Investment Banking and Hedging Statutory Trust (BIBT) as capital financier for the prestigious Deepwater Hydrocarbon Drilling and Extraction project. This project, awarded by the Directorate of Hydrocarbon, Ministry of Petroleum and Natural Gas, Government of India, marks a significant milestone in DPRL’s journey towards enhancing energy production and contributing to India’s energy security.

In a historic move, the Boards of DPRL and BIBT executed a Project Financing Agreement (PFA) under which the companies committed to initial investment of USD$58 Million immediately. This substantial investment will propel the Deepwater Hydrocarbon project towards successful execution and realization. The project is valued at USD$6 Billion.

Seismic report from the Ministry of Petroleum and Natural Gas, Government of India  confirmed the available reserves, basic infrastructures are strategically available for drilling facilities to be built and extraction to commence.

One of the key highlights of this partnership is the approval granted by the DPRL Board, allowing BIBT to fulfill its financial obligations and project funding, while also providing it the freedom to make public announcements at its designated time. Additionally, both parties have mutually agreed to the appointment of suitable domestic and international operators and drilling partners to initiate the execution of the project, fostering a spirit of cooperation and partnership.

This collaboration between DPRL and BIBT signifies a major step in the energy sector and reinforces DPRL’s commitment to meeting the growing energy demands of India. It also underlines our dedication to sustainable development and ambition to contribute positively to India’s energy landscape.

Darwin appointed Dr. Thana Balan, its Chairman of Emeritus, as the administrator of the DPRL-BIBT collaboration.



About Darwin Platform Refineries Limited (DPRL): DPRL isa leading player in the energy sector, committed  to  delivering  innovative  and  sustainable  solutions  in  the  field  of  hydrocarbon exploration and extraction. With a strong track record of excellence, DPRL continues to drive growth and contribute to India’s energy security.

About Banyan Investment Banking and Hedging Statutory Trust (BIBT): BIBT is a trusted name in the financial sector, specializing in investment banking and hedging solutions. With a global presence and a commitment to financial excellence, BIBT stands as a reliable partner in DPRL’s mission to advance energy projects.


Note: This press release is for informational purposes only and does not constitute financial advice or an offer of securities. Please consult with financial experts and legal advisors for specific investment information.

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