Project Profile
Location: Bay of Bengal, Cox\'s Bazar District in the Division of Chittagong, Bangladesh
Recoverable Reserves: 45.5 bcf (1.3 bcm)
Start-up year: -
The Kutubdia gas field is located in the Bay of Bengal, Cox\'s Bazar District in the Division of Chittagong, in Bangladesh. The field is estimated to have recoverable gas reserves of around 45.50 billion cubic feet (Bcf), but an inadequate gas demand at the time might have prompted the now-defunct Union Oil to leave the field undeveloped. Santos had recently sought exploration rights on Kutubdia. It subsequently abandoned plans to drill in the offshore Magnama structure in the Bay of Bengal over October 2012-April 2013 as it has not received rights to explore the nearby Kutubdia gas field. Santos first acquired rights to the field in 2010 when it acquired Cairn Energy\'s interests - including block 16 - in Bangladesh in November 2010, but it later relinquished its rights to the field. The Australian firm was eyeing to develop the Kutubdia field along with its planned drilling programme in offshore Magnama in 2013.
State-owned Bangladesh Petroleum Exploration and Production Co. Ltd. (Bapex) has planned to venture into offshore petroleum exploration in Bangladesh for the first time after signing a preliminary deal with Australia’s Santos Ltd. on 27 June 2016, to drill an exploration well in Block 16. The agreement with Santos will give Bapex a 49% stake in offshore Block 16, which is currently 100% owned by Santos. (July, 2016)
Operators:
Santos: 51% interest
Bangladesh Petroleum Exploration and Production Co. Ltd. (Bapex): 49% interest