Project Profile
Location: Bay of Bengal, Cox\'s Bazar District in the Division of Chittagong, in Bangladesh
Reserves: 275 Bcf of gas
Start-up Year: -
The Teknaf field is located in the Bay of Bengal, Cox\'s Bazar District in the Division of Chittagong, in Bangladesh, adjacent to Myanmar\'s A-1 and A-3 gas blocks off the Arakan coast where South Korean Daewoo is the operator and owns a majority stake.
Total and its partners gave up their rights over the gas field, which straddles blocks 17 and 18, in early 2009. Total and its partners Tullow Oil, PTTEP and Oakland and Rexwood had found around 275 Bcf of gas in Teknaf, but they found it not feasible then. Petrobangla had initially awarded blocks 17 and 18 to the Oakland-Rexwood joint venture during its first round of bidding in January 1997, but they did not carry out exploration due to poor gas demand in the country at that time. Tullow later bought a majority stake from the JV, and then in 2006 sold 60% stake to Total, which last year sold half of its stake to PTTEP. Total held 30% stake in blocks 17 and 18 along with Tullow (32%), PTTEP (30%) and Oakland and Rexwood (8%) when they gave up the blocks in 2009. Santos later partnered Oakland International to explore the Teknaf gas field and submitted a proposal to Petrobangla in 2011. Santos and Oakland had sought exploration rights for the blocks on condition they would be able to sell output to private users at market prices. Santos and Oakland had wanted to sign a production sharing contract, but the state-owned Petrobangla rejected their proposal.
Operators:
Petrobangla: Operator with 100% interest