Geophysics companies are being invited to submit tenders to conduct a marine 2D seismic survey of the sovereign offshore areas of Bangladesh on a non-exclusive multi-client basis, according to Petrobangla.
The first study of its kind in the country's history, the importance of seismic surveys came to the fore following the settlement of Bangladesh's maritime boundaries with Myanmar and India.
“Petrobangla, on behalf of the government, invites tenders to conduct a marine 2D seismic survey. The water depth to be covered will vary from 20m to more than 2500m,” Chairman Istiaque Ahmad of the Bangladesh Oil, Gas and Mineral Corporation, widely known as Petrobangla, told the Dhaka Tribune yesterday.
“The objective of the survey is to provide the oil and gas industry with 2D non-exclusive multi-client seismic data of the offshore areas of Bangladesh in order to help with basin evaluation, prospect generation and robust bid-round participation,” he said.
The last bid submission date is March 29, 2015. The opening of bids before authorised representatives of the bidders will take place at Petrobangla the same day.
“Interested companies are required to purchase bid documents for TK8,000, roughly $100. The bid documents include a schedule and a model agreement for the 2D seismic survey,” Istiaque said.
He said interested companies must have previous experience conducting offshore multi-client seismic surveys in at least three different countries.
“We will not have any expenses because the work will be done with their own funds. After the tender documents are submitted, we will select a company and sign a deal for 10 years. Petrobangla will share in the profits from selling the data after cost recovery,” he said.
“Bid documents may be purchased in cash in local currency or via wire transfer in US dollars,” he said.
The Petrobangla chairman said a pre-bid meeting would be held at Petrobangla within a fortnight to answer queries from bidders.
In order to issue special directions to prepare the plan of action, Prime Minister Sheikh Hasina has called a high-level meeting at her office on August 20, 2014.
After a three year pause, the government plans to formulate a fresh production sharing contract (PSC) model to award offshore hydrocarbon blocks in the Bay of Bengal.
The settlement of the maritime border awarded Bangladesh a territorial sea covering 118,000 square kilometres and an exclusive economic zone extending to 200 nautical miles.