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Dhaka Friday,  Mar 29, 2024

Three companies Submitted EOI For Three Blocks

EB Report

Three international oil companies (IOC) have submitted their Expressions of Interests (EOI) to explore oil and gas resources in country’s deep sea blocks titled DS-10 and DS-11 and shallow sea block SS-10.

Three IOCs namely Norway based Stateoil, South Korean Posco Daewoo International Corporation and Singapore-based Kris Energy, submitted their respective EOIs to Petrobangla on Wednesday. The IOCs showed up before Petrobangla holding their EOIs to explore and develop the deep and shallow sea blocks on just before the deadline of the EOI submission.

Petrobangla chairman Ishtiaq Ahmed said to Energy Bangla that, that instance of EIO submission of just three companies was not that unexpected. There is an expert evaluation committee in Petrobangla, who will evaluate and determine the fittest contender, he added.

Petrobangla invited EOI on September, 28 to explore and develop these two deep-sea blocks and one shallow sea block in the Bay of Bengal. Earlier on June 16, 2011 Petrobangla made a Production Sharing Contract (PSC) for block 10 and 11 with American International Oil Company Conoco Phillips.

Conoco Phillips has only conducted 2D seismic survey at that time which can only give primary indications of Hydrocarbon availability. The IOC then passed 2 valuable years without any major progress in exploration and development of those two blocks. At least a 3D seismic survey could give better images of possible resources, suggested experts.

However, the unsupervised survey result of Conoco Phillips  estimated that the DS-10,DS-11 blocks would have a reserve around 6 to 7 tcf of gas.

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