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China’s Sinopec and the US-based Halliburton started spud drilling Kanchan-1 Well under the country’s shallow water Block-SS-04 on Wednesday.
Engineers of the two companies launched the drilling job at a function at the site.
The block-SS-04 is located in Bengal Basin and covers an area of 7269 Sq. Km with water depth ranging from 0 to 100 meter.
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According to sources at the energy industry, Sinopec International Petroleum Service Corporation will conduct drilling as the drilling contractor for the project with Halliburton International Gmbh as their subcontractor for integrated services.
The Chinese and the US companies will conduct the drilling as the contractor of India’s state-owned ONGC Videsh Limited (OVL).
READ: Sinopec, Halliburton set to start spud drilling in offshore block SS-04 Wednesday
The OVL was awarded with the block SS-04 by Bangladesh's state-owned Perobangla through production sharing contract in 2014 under a bidding round in 2012.
Earlier, the OVL floated the tender invitation for the provision of drilling of Kanchan-1 onshore well in September 2017 and awarded the contract to the Sinopec.
READ: Bangladesh encourages US companies to invest in offshore oil, gas explorations
The block was awarded to a consortium of ONGC Videsh Ltd and Oil India Ltd in 2012 Bangladesh bid round and the PSC was signed on in February 2014. ONGC Videsh with 45% PI is the operator and other partners are OIL with 45% PI and Bangladesh’s state-owned BAPEX with 10% PI.
