Bangladesh English-language newspaper, Dhaka Tribune, reported on 5 August that state-owned Bangladesh Oil & Gas Corp. (Petrobangla) will sign exploration agreements with two international oil companies for three blocks.
Petrobangla initially invited international tenders for exploring in 12 blocks under Offshore Bidding Round 2012, launched in December 2012. The bidding ended on 2 April 2013, but the IOCs were focused on only three: Blocks 4,7, and 9, in shallow waters of the Bay of Bengal.
ConocoPhilips, which already has two blocks in Bangladesh, submitted a tender for Block 7 (5770sq km). A new entrant to Bangladesh exploration, India's ONGC Videsh Ltd. tendered for Block 4 (7271sq km) and Block 9 (7022sq km).
ConocoPhillips proposed to acquire 2D seismic over 2347 km, conduct a 3D seismic survey over a 500sq km area, and drill one exploration well in Block 7.
ONGC proposed a 2D seismic survey of 2700 km, a 3D seismic survey of 200sq km, and will drill two wells in Block 4. It will also acquire 2850km of 2D seismic, 300sq km of 3D seismic, and drill three wells in Block 9.
Petrobangla Chairman Hossain Monsur said Petrobangala was allowed to sign the initial agreement, but that the Bagladeshi cabinet committee on economic affairs would approve the signing of production-sharing contracts.
The country offered earlier bid rounds in 1993, 1997, and 2008, and four IOCs are currently working in Bangladesh: ConocoPhilips, Chevron, Australia-based Santos (Block 16), and Tullow Oil plc (Block 9).
Image: Blocks on offer in the Bangladesh Offshore Licensing Round 2012 (red shading). Source: PetroView®
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