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US, Irish firms to explore for oil in Bay of Bengal

Category :International Sub Category :Bangladesh
2009-08-25 00:00:00
   Views : 283

Dhaka, Aug 25 - Bangladesh has unveiled its oil and gas exploration plans in the Bay of Bengal, awarding three blocks for exploration, while taking care that they do not fall within maritime territories claimed by neighbours India and Myanmar.

The cabinet committee on economic affairs Monday approved three oil and gas exploration bids 'under the condition that the explorers would not work in the internationally disputed maritime areas until the dispute is resolved', The Daily Star said.

Ireland-based company Tullow Bangladesh has been awarded shallow water block SS-08-05 while US oil company Conoco Phillips South Asia New Ventures Ltd has got the deep sea blocks DS-08-10 and 11.

As per the cabinet decision, these companies 'are allowed to explore the areas of these blocks not claimed by Myanmar or India'.

'The condition is that they cannot explore certain parts of these block till the disputes are settled,' said Finance Minister A.M.A. Muhith after the committee meeting.

This condition was given following an international convention that says if there is a dispute over maritime boundary, a nation may award blocks but it should not allow exploration in the disputed areas.

The maritime boundaries in the upper reaches of Bay of Bengal are not demarcated and Bangladesh is sandwiched between the two neighbours, talks with whom have been non-starters.




Author :Indo Asian News Service



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