Videsh (OVL), the overseas arm of Oil and Natural Gas Corporation Limited (ONGC), has drilled its first well in Bangladesh.
A statement from OVL said that this well called Kanchan #1 has been spudded in Block SS04, Bangladesh, on Wednesday at Maheshkhali Island.
“This exploratory well is planned to be drilled to a depth of 4,200 metres and will be targeting two prospective formations. This well marks the beginning of exploratory drilling in Bangladesh
Videsh and will be followed by drilling at two more exploratory locations,” the statement said.
OVL in consortium with Oil India (OIL), was awarded two shallow offshore Blocks SS-04 and SS-09 in Bangladesh
during the Bid Round of 2012. The Production Sharing Contract (PSC) was signed between ONGC
Videsh, OIL and Bangladesh Petroleum Exploration and Production Company (BAPEX) in February 2014.
OVL with Participating Interest (PI) of 45 per cent is the Operator with OIL (holding 45 per cent PI) and BAPEX (with 10 per cent PI) as the other partners. BAPEX is being carried equally by ONGC Videsh
and OIL up to commercial discovery stage.
“All pre-drilling activities were completed with the rig being on location in late 2019 and with spudding scheduled for March 2020. However, the drilling had to be deferred due to Covid-19 pandemic,” the statement added.
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