Project Profile
Value: US$58.4 million (SS-04) and US$86.4 million (SS-09)
Location: Bay of Bengal, Bangladesh
Area: 7,026 sq km (SS-09), 7,226 sq km (SS-04)
Water depth: 20-200 m
ONGC Videsh (OVL), a wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC), has signed a production-sharing contract for two shallow-water exploration blocks in the Bay of Bengal, Bangladesh.
The company, which will explore oil and gas in the blocks including SS-09 and SS-04, formed a consortium with Oil India (OIL), and participated in the Bangladesh offshore bidding round 2012. The Bangladesh Government launched the bidding round during December 2012, in which the consortium was officially announced as the winner of the two water blocks on 20 August 2013. Government of Bangladesh approved the award of the blocks to OVL/OIL consortium on 3 December 2013. An in-depth seismological survey of the blocks will be conducted during a five-year initial exploration period, followed by a three-year period. The contractors will have the right to operate and sell oil and gas for 20 years and 25 years from an oil field and a gas field, respectively.
Exploration term
- 8 consecutive contract years (5 years as initial exploration period and 3 years as subsequent exploration period).
Work Programme
- 2,700 full-fold LKM (line kilometre) 2D seismic data acquisition and processing and one exploratory well (SS-04)
- 2,700 LKM 2D seismic data acquisition and processing and two exploratory wells (SS-09)
Operators:
ONGC Videsh (OVL) (subsidiary of Oil and Natural Gas Corporation (ONGC)): Operator with 45% interest
Oil India (OIL): 45% interest
Bangladesh Petroleum Exploration & Production Co. (BAPEX): 10% interest