The Production Sharing Contracts (PSC’s) of the Blocks SS-04 and SS-09 were signed by Government of People’s Republic of Bangladesh, Bangladesh Oil, Gas & Mineral Corporation (PETROBANGLA), consortium ONGC Videsh Limited (OVL) & OIL India Limited (OIL) and Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) on 17 February, 2014. OVL will act as the Operator of these two Blocks with Participating Interest of 45%, OIL holds 45% PI and BAPEX 10%.
The Block SS-04 covers an area of 7,269 sq. km with water depths ranging from 20-200 m and the Block SS-09 covers an area of 7,026 sq. km with water depths ranging from 20-200 m. The exploration term for the both blocks consists of 8 (eight) consecutive contract years comprising 5 (five) years as Initial Exploration Period and 3 (three) years as Subsequent Exploration Period. As per PSC, ONGC Videsh Limited will conduct 2700 Full Fold LKM 2D Seismic Data Acquisition and Processing & 1 exploratory well in Block SS-04 and 2700 LKM 2D Seismic Data Acquisition and Processing & 2 exploratory wells in Block SS-09. Now Exploration Phase I is in progress for both Blocks.
As of end of March 2016, ONGC Videsh Limited conducted total 3008.130 Full Fold LKM 2D Seismic Data Acquisition for the both Blocks SS-04 and SS-09. The rest of the seismic volume will be 2D OBC Survey & Land Seismic Survey and will be conducted within Initial Exploration Period.