Stephen Molyneux, an energy expert on the Australian Dorado and Pavo fields, has said that the two fields share similarities with Bangladesh’s Hatiya sub-basin.

Making a presentation on analysed data from the two Australian fields and the condition of the Hatiya sub basin, he noted that the geological and geophysical conditions of the two fields are comparable to those of Hatiya.

“So, Bangladesh can utilise the Australian experience in exploration of oil and gas in this region,” he said on Wednesday at a seminar held at Garden Gallery Cosmos in Baridhara, Dhaka.

The event was organised by the South East Asia Petroleum Exploration Society (SEAPEX), a non-profit organisation established in 1973, with joint sponsorship from Cosmos Group and KRISENERGY.

Masud Khan, DMD of Cosmos Group, and Edwin Bowles, General Manager of KRISENERGY Bangladesh, also spoke at the seminar.

Stephen Molyneux, Petroleum Geoscientist and Exploration Manager at WARREGO ENERGY LIMITED, mentioned that both the Dorado and Pavo fields and Bangladesh’s Hatiya sub-basin were formed through similar sedimentation processes and share a comparable rock source for gas and oil.

He added that Bangladesh could easily drill to a depth of 4,000 meters underground without encountering overpressure.

In response to a question, the Australian energy expert noted that limited access to data on Bangladesh’s offshore gas blocks was a significant reason why large companies did not submit bids in the recent gas block bidding.

“Unless you open up your data and ensure oil companies’ access to those, no company will be interested in participating in the bidding round,” he said.

However, he mentioned that many international oil companies are showing interest in Bangladesh, taking advantage of the current situation. But he pointed out that the existing global gas market prices are not favorable.

Masud Khan said that the Bangladesh chapter of SEAPEX, launched in 2023, has been working to promote the development of the country’s energy sector.

“We’ve been arranging seminars and discussions on a regular basis to highlight the country’s potential in the energy sector,” he said.