Tuesday, November 01, 2005














FE Specials

FE Education

Urban Property

Monthly Roundup


Saturday Feature

Asia/South Asia





57th Republic Day of India






Site Search



Govt to seek EoIs from oil cos by Nov 10 to conduct seismic survey in Bay
M Azizur Rahman

          The government is set to seek expression of interests (EoIs) from potential oil companies by November 10 next to conduct seismic survey in the country's exclusive economic zone in the Bay of Bengal.
"Advertisements will be published in national dailies seeking the EOIs from the reputed firms having experiences in conducting seismic survey into the deep sea to determine the country's hydrocarbon potential," a senior official of the Ministry of Power, Energy and Mineral Resources (MPEMR) told the FE.
He said the Energy and Mineral Resources Division (EMRD) under the MPEMR is expected to fix a cut-off time of one month to submit the EoIs to the EMRD.
The MPEMR will make a short list on the EoIs before floating international tender for the seismic survey in the exclusive economic zone that covers 200 nautical miles from the shore.
The most competent firm will be selected through the open tender to conduct seismic survey within six months.
Petrobangla sources said the government will go for third round bidding only after evaluation of the potential of hydrocarbon presence in the deep sea.
"A good number of international companies including those of Europe and India have already expressed their interests for exploration in Bangladesh offshore blocks," a top Petrobangla official said.
The recent discovery of huge gas reserves in some offshore gas fields in neighbouring India and Myanmar has prompted the government to award exploratory works in hitherto unexplored off shore blocks, MPEMR sources said.
The success of the Cairn Energy in getting positive test results on its gas discovery in the offshore sites at Hatiya and Meghhnama under Block 16 with an estimated reserve of 4.0 trillion cubic feet (TCF) also prompted the government to go for seismic survey before inviting bidding.
Regarding the seismic surveys to be conducted by the international oil companies (IOCs) Petrobangla sources said the government would not have to bear the expenses to conduct these surveys.
They said the IOCs would have to bear the expenses of their own. They would, however, be allowed to sell data and the hydrographic and geological mapping information to the interested parties in the global market.
On previous occasions the government signed production-sharing contracts (PSCs) with the IOCs for the oil and gas blocks without knowing the potential of hydrocarbon there.
Currently, the government has eight PSCs with the IOCs for 10 blocks across the country.
The government signed these PSCs in the first and second round biddings in 1996 and 2001 respectively after dividing the country into 23 blocks.
Among the IOCs, the Unocal Bangladesh Ltd alone was awarded Block 12, 13 and 14 covering Sunamganj, Hobiganj, Sylhet and Moulavibazar areas.
The Unocal along with the state-owned Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX) was awarded Block 7 for gas and oil exploration in Barisal, Patuakhali, Perojpur, Jhalkathi, Barguna and the adjacent areas of the Bay of Bengal.
Cairn Energy Exploration Bangladesh Ltd together with the BAPEX was awarded Block 5 and 10.
These blocks cover Khulna, Satkhira, Bagerhat and the adjacent portion of the Bay of Bengal, Laxmipur, Noakhali, Bhola, Shahbajpur and the adjacent areas of the Bay of the Bengal.
Cairn Energy Sangu Field Ltd and Halliburton Energy Inc were jointly awarded Block 16 for the areas of Feni, greater Chittagong, Kutubdia and the adjacent areas of Bay of Bengal.
Tullow Bangladesh Ltd and Auckland Oil Company were awarded jointly the Blocks 17 and 18 covering the areas of Cox's Bazar and the adjacent area of the Bay of Bengal.
Tullow Bangladesh Ltd, Niko Resources and BAPEX were jointly awarded Block 9, which covers the areas of Gazipur, Narsingdi, Comilla and Chandpur.


  More Headline
Govt to seek EoIs from oil cos by Nov 10 to conduct seismic survey in Bay
Civil aviation ministry selects two private cos to operate hajj flights
Dollar, Euro dearer in kerb market
Asia-Pacific bird flu experts study doomsday scenarios
Experts for barge-mounted and small power plants
ADB releases country strategy for Bangladesh
Why India is no longer in thrall to its star-studded diaspora
$300m poverty reduction fund under SAARC on the cards
Another JMB leader charge-sheeted
Four die in Ctg road mishap
Banks go on Eid holiday from Nov 3
'Marking to market system' launched to boost secondary bond market
Bangladesh trade road show in US likely to be deferred again
Public hospitals running without X-ray films for two years
SC extends its stay for 3 more months on HC verdict
Dhaka not aware of world tea expo in US
24 foreigners asked to leave country before SAARC summit
Fight over bodies on as families hunt for missing after Delhi blasts
Developments in the region and abroad

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail





Copy right @ financialexpress.com