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24 April, 2019 00:00 00 AM
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exploration in Bay

Foreign firm to conduct 2D survey

DEEPAK ACHARJEE, Dhaka

The government is taking steps to attract foreign oil and gas exploration companies to invest in Bangladesh for offshore oil and gas exploration in the Bay of Bengal. As a first step towards attracting foreign investors, the government is going to select a foreign company, TGS-Schlumberger JV, to conduct 2D non-exclusive multi-client seismic survey in the country’s offshore areas in order to confirm the existence of untapped offshore oil and gas reserves, sources in Energy and Mineral Resources Division said. The government is going to conduct the survey in the Bay of Bengal by appointing a foreign surveyor at a time when experts are sounding the alarm bell over the country’s depleting gas reserves. The survey would cover around 75,000 sq km in

the Bay with the water depths ranging from 20 metres to 2,500 metres to confirm offshore oil and gas reserves, according to the sources. A senior official of the Energy Division told The Independent that they already prepared a proposal to appoint TGS-Schlumberger JV in order to conduct the seismic survey in the Bay. The proposal would be placed at the meeting of the Cabinet Committee on Economic Affairs today for its approval. “After getting approval from the cabinet committee, we’ll sign a model agreement with the foreign company soon to conduct the survey,” said the official.

Energy and Mineral Resources Division secretary Abu Hena Md Rahmatul Muneem stated in the proposal that a model agreement would be signed with TGS-Schlumberger JV on the basis of a report of a five-member committee, led by the law minister.

“The bid evaluation committee has selected TGS-Schlumberger JV,” the proposal said.

Three other companies—Marine Arctic Geological Expedition Joint Stock Company, BGP-INC, China National Petroleum Corporation-Spectrum Geo Pty Limited JV and DMNG Joint Stock Company—too submitted bidding proposals for the work.

“We will be able to gather the required data from the deep waters of the Bay of Bengal on oil and gas reserves,” the proposal stated.

“After collecting the data, we will be able to attract foreign oil and exploration companies to invest in oil and gas exploration in the country,” said the proposal.

“At present, there are no useful data on oil and gas reserves in the Bay of Bengal. So, international oil companies are not showing any interest in exploring oil and gas from the Bay,” the proposal added.

Energy experts said that after getting the survey report, the government would invite international oil companies to drill wells in the Bay. The country is facing a huge gas crisis as the demand for gas is more than 3,200mmcf per day against the supply of 2,900mmcf. Owing to this shortfall, Petrobangla has introduced a gas rationing strategy for every gas-consuming sector.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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