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ConocoPhillips’ 2D survey results likely in May

  • Published at 10:53 am April 7th, 2013
ConocoPhillips’ 2D survey results likely in May

The results of the 2D seismic survey to explore oil and gas in the Bay of Bengal by US-based ConocoPhillips will be published by May.

“ConocoPhillips has already submitted the acquisition results of its 2D seismic survey. It is now working on the final report,” Petrobangla Director for production sharing contract Muhammad Imaduddin told Dhaka Tribnue on Saturday.

The company has already covered 2,600 line km of area for the survey.

“We hope that the final results can be published by May,” said Imaduddin.

ConocoPhillips is now studying and analysing the data acquired from the survey of two offshore blocks.

A production sharing contract (PSC) was signed between ConocoPhillips and Petrobangla on June 16, 2011 for offshore blocks 10 and 11.

In February last year, Petrobangla approved ConocoPhillips’ survey plans after which it hired a Chinese contractor, BGP, for the job.

According to the PSC, ConocoPhillips will explore the blocks for nine years. After the initial five years of primary exploration it will develop the well.

The company will also conduct a survey and exploration in the deep-sea blocks, an area of 5,158 square kilometres where the depth ranges between 1,000m and 1,500m. The blocks are some 280km from the Chittagong port.

The energy giant has pledged $160m bank guarantee for the work in three phases.

Bangladesh has been in the throes of a severe gas crisis over the past few years.