Posco Daewoo, a South Korean company, is set to carry out 3D (three dimensional) seismic survey covering 1,000 square km in block DS-12 in the Bay of Bengal to explore gas by end of this year.
“If the survey result is positive, a well will be drilled in the block,” Chairman of Petrobangla Ruhul Amin told BSS here today.
He said the renowned Korean company conducted a 2D survey covering some 3,580 square kilometre areas in the Bay of Bengal in 2017 and identified some prospects that encouraged the Posco Daewoo to carry out the 3D seismic survey in 1,000 square km area.
“The government led by Prime Minister Sheikh Hasina is working sincerely to ensure energy security in the country and we have installed cross border pipeline for oil and set up FSRU (Floating Storage Re-gasification Unit) for LNG (Importing Liquefied Natural Gas),” the chairman said.
According to officials, on the basis of the 2D seismic survey output Daewoo subsequently will drill an exploratory well at DS-12 block area.
Earlier, the state-run Petrobangla awarded an offshore block to Posco Daewoo Corporation of South Korea for gas exploration from the deep-sea block-12 in the Bay of Bengal.
Bangladesh has 26 blocks in the maritime territory. Of them, 15 are deep-sea blocks and 11 are in shallow waters. The government is working on four areas, including onshore and offshore, to explore gas. It is also LNG to ensure the country’s energy security, officials said.
Besides, Posco Daewoo’s achievement in Myanmar has encouraged the company to explore gas in Bangladesh.
Block-12 is over 3,560 sqkm with depths between 1,000 and 2,000 metres. The initial exploration period is five years and the subsequent exploration period is three years, according to Petrobangla.
In recent years, Bangladesh has raised its natural gas production and average production stood at 2,700 million cubic feet per day. However, the demand stands at over 3,300 million cubic feet per day, according to Petrobangla.
In 2014, the government awarded shallow water block-11 to Australian oil and gas company Santos and Singapore-based Kris Energy, and shallow water block-4 and -9 to India’s state-owned Oil and Natural Gas Corporation Videsh Ltd.