DHAKA: State-owned Petrobangla has signed a production sharing contract (PSC) Wednesday) with Santos-Kris Energy, for searching oil-gas in the block No.SS-11 in the Bay of Bengal. State-run BAPEX will work with the two companies as a 10 percent partner.
The deal was signed at Petro Center in the capital on Wednesday noon.
Finance Minister Anbul Maal Abdul Muhith, PM Energy Adviser Dr Towfiq-e-Elahi Chowdhury, Power, energy and Mineral Resources state minister Nasrul Hamid Bupu and Energy Department secretary Mozammel Hossain were present in the deal signing ceremony.
In first phase, the two companies will conduct 2-D (dimension) seismic survey in 870 kilometers and 3-D survey in 300 square kilometers apart from digging an exploratory well in five years.
In second phase, they will operate 2-D survey in 1,006 kilometers, and 3-D survey in 300 square kilometers in three years.
Besides, Petrobangla chairman Hossain Mansur delivered welcome speech at the programme.
Earlier, Petrobangla had signed production sharing contracts (PSC) with US-based ConocoPhillips for block No.SS-07 and the Indian ONGC won three offshore shallow blocks for blocks No.SS-04 and SS-09 in the Bay of Bengal.
All the three blocks are located in areas in the Bay where there is no dispute with neighbouring India or Myanmar.
BDST: 1437 HRS, MAR 12, 2014
