Bangladesh to sign an agreement with ConocoPhillips for hydrocarbon exploration

Bangladesh to sign an agreement with ConocoPhillips for hydrocarbon exploration

The Government of Bangladesh plans to sign an agreement with US oil firm ConocoPhillips for hydrocarbon exploration in the Bay of Bengal.

The deal will be signed following a two-year process initiated by an invitation of international tender.

Under the agreement ConocoPhillips will conduct a survey in the undisputed areas of two deepwater offshore blocks, DS-08-10 and DS-08-11, in the Bay of Bengal.

The final production-sharing contract will be signed after resolving the dispute of overlapping gas blocks with neighbouring India and Myanmar, which both claim partial ownership of the offshore blocks, according to Bangladesh’s Financial Express.

UK’s Cairn Energy-operated Sangu gas field is the country’s only operational offshore field with an output of 35 million cubic feet per day.

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