Santos operates the production-sharing contract (PSC) for block SS-11, covering 4,475 sq km (1,728 sq mi) in the Bay of Bengal over the Bengal fan. Both companies have a 45% interest, with the remaining 10% held by Bangladesh Petroleum Exploration & Production Co.
Most of the block is in shallow waters up to 200 m (656 ft), although the farthest southwest portion extends to 1,500 m (4,921 ft).
The PSC has an initial five-year term, with commitments to acquire and process 1,893 km (6,210 mi) of 2D seismic data and 300 sq km (116 sq mi) of 3D data, and to drill one exploration well.
Richard Lorentz, KrisEnergy’s business development director, said: “We see high potential in the geology in the offshore area although there has been negligible exploration activity in SS-11 itself. This award also marks a new partnership with Santos, which has more than six years of operating experience in country.