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.

 

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