KrisEnergy increases assets offshore Bangladesh

KrisEnergy (Asia) Ltd. has been awarded a 45% nonoperating working interest in the production-sharing contract for the shallow-water Block SS-11 offshore Bangladesh.

Santos Sangu Field Ltd. holds 45% of the block as operator with Bangladesh Petroleum E&P Co. Ltd. holding the remaining 10%.

Block SS-11 is in the Bay of Bengal and covers 4,475 sq km above the Bengal Fan. Water depth for the block ranges from 200 m to 1,500 m in its farthest southwest portion. The PSC includes a 5-year term, acquisition, and processing of 1,893 line-km of 2D seismic data and 300 sq km of 3D seismic, and a commitment to drill one exploration well.

In April 2013, KrisEnergy initiated the acquisition of a 30% working interest in Block 9 onshore Bangladesh, which contains Bangora gas field. The transaction was finalized in December (OGJ Online, Dec. 17, 2013). KrisEnergy’s director of business development Richard Lorentz said, “We see high potential in the geology in the offshore area although there has been negligible exploration activity in SS-11 itself.”

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