Singapore: Singapore oil and gas firm, KrisEnergy has been awarded a 45% non-operating interest in the production sharing contract for shallow sea block SS-11 offshore Bangladesh.
The block was awarded to operator Santos Sangu Field with a 45% share, Bangladesh's BAPEX with a 10% share and KrisEnergy.
SS-11 covers 4,475 sq km in the Bay of Bengal and the majority of the block lies in shallow waters up to 200 metres.
Richard Lorentz, KrisEnergy’s director business development, commented: “Since our acquisition of a 30% interest in onshore Block 9 in April 2013, we have been looking at opportunities to expand our portfolio in Bangladesh. We see high potential in the geology in the offshore area although there has been negligible exploration activity in SS-11 itself." [13/03/14]