KrisEnergy acquires stake in SS-11 block PSC in Bay of Bengal

KrisEnergy Ltd.

KrisEnergy Ltd., an independent upstream oil and gas company, has been awarded a 45% non-operating working interest in the production sharing contract (PSC) for the shallow sea block SS-11 offshore Bangladesh in the Bay of Bengal.

The block was awarded to Santos Sangu Field Ltd., which is the operator of the PSC with 45%, KrisEnergy (Asia) Ltd., a wholly owned subsidiary of the KrisEnergy group of companies, and Bangladesh Petroleum Exploration & Production Co. Ltd. (BAPEX), which holds 10%.

Block SS-11 covers an area of 1,728 square miles (4,475 square kilometers) in the Bay of Bengal over the Bengal Fan. The majority of the block lies in shallow waters up to 656 feet (200 meters) with the furthest southwest portion extending into water depths up to 4,921 feet (1,500 meters). The PSC has an initial five-year term, with an associated work commitment of the acquisition and processing of 1,176 miles (1,893 kilometers) of 2D seismic data and 115 square miles (300 square kilometers) of 3D seismic data, as well as the drilling of one exploration well.

In 2013, KrisEnergy acquired a 30% operating working interest in Block 9 onshore Bangladesh, which contains the producing Bangora gas field.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...