Seismic surveys in Bay to start next winter

Added: (Mon Mar 27 2006)

Pressbox (Press Release) - The Energy and Mineral Resources Division (EMRD) is set to start seismic surveys in the Bay of Bengal by some reputed international firms in the coming winter.
The surveys will be done to move ahead with the process of third round bidding for deep sea hydrocarbon exploration.
Sources said the EMRD has taken the initiative for seismic surveys on the basis of recommendation by an expert committee.
"We will seek approval from the cabinet to prepare the guideline on the seismic surveys and involve well-reputed firms to conduct the survey soon," EMRD Adviser Mahmudur Rahman told the FE.
EMRD sources said the next winter season from November 2006 - April 2007 would be the appropriate period for conducting seismic surveys in the Bay.
The six-member committee of experts, headed by Wahidun Nabi, submitted its recommendations a couple of weeks back saying a survey in the Bay is needed to attract foreign investment in gas exploration.
The committee initiated work on the draft policy when the same was sent back by the cabinet to the EMRD seeking an expert review.
Other members of the committee include Professor Nurul Islam and Professor M Tamim of the Bangladesh University for Engineering and Technology, Professor Abdul Quayum Chowdhury of Dhaka University, Sheikh Abdur Rashid, a joint secretary of the EMRD, and Rahman Morshed, director of Petrobangla.
The Ministry of Power, Energy and Mineral Resources (MPEMR) sources said all required formalities to invite tender for conducting seismic surveys in the deep sea will be initiated officially after getting necessary approval from the cabinet.
The ministry is planning to seek expression of interests (EoIs) from potential firms to conduct seismic surveys in the country's exclusive economic zone in the Bay of Bengal, a senior official of the Petrobangla said.
The Petrobangla has already sent a letter to the EMRD Secretary with regard to the issue of seeking EOIs from the interested oil and gas companies.
A good number of international companies including those from European countries and India have already indicated their interests in exploration activities in the Bay, Petrobangla sources said.
Taking cue from the recent success of substantial gas discovery in offshore gas fields in some neighbouring South Asian countries - especially in India and Myanmar -- Bangladesh has taken special interest in deep-water hydrocarbon exploration in the Bay of Bengal.
In the draft guideline, the EMRD has said that bids should be invited from interested international oil companies, and the cost and risk of the surveys should be borne by the selected bidders. The government and Petrobangla will have no liabilities.
The selected bidder will sell the data it will obtain from the survey to other oil companies with permission from the government.
This is, however, the first ever instance where the government will have information about the deep sea blocks before floating bids for hydrocarbon exploration.