Bangladesh offers deepwater acreage in first offshore bidding round since 2012

March 11, 2024

(WO) – The Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) has announced the 2024 Bangladesh Offshore Bid Round. It is the first bid round since 2012 to offer offshore acreage, comprising fifteen deep water and nine shallow water blocks.

Map showing TGS 2D multi-client seismic coverage offshore Bangladesh and 2024 Bangladesh Offshore Bid Round license blocks (Source: TGS)

TGS, in partnership with SLB and Petrobangla, has acquired a 2D multi-client seismic data survey that has widespread coverage across offshore Bangladesh, encompassing over 75,000 km2 across all 24 blocks on offer in the bid round.

Acquisition of this 12,636-line kilometer 2D seismic survey was completed in April 2023. The final PSTM-processed products are available now, and the final PSDM products will be available in May 2024.

David Hajovsky, Executive Vice President of Multi-Client at TGS, said, “The Bengal Fan is one of the world's largest deepwater fans with significant evidence of working petroleum systems. It is widely considered one of the most extensively underexplored frontier regions. With limited existing offshore Bangladesh data, this new high-quality seismic, combined with the revised Production Sharing Contract 2023 (PSC), is a critical component for companies to evaluate and submit competitive bids for the blocks on offer in the Bid Round."

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