Dhaka: ONGC Videsh Limited has started its first exploratory drilling campaign in Bangladesh for finding oil and gas.
The first well, Kanchan 1 was spudded in block SS04 of the Maheshkhali island of the country on Wednesday. This exploratory well is planned to be drilled to a depth of 4200 meters. It will target two prospective formations. The exploratory drilling will be followed by drilling at two more exploratory locations, as per the official statement.
ONGC Videsh Ltd is a wholly-owned subsidiary of the Oil and Natural Gas Corporation Limited (ONGC). It was awarded the drilling of tow offshore blocks SS 04 and SS 09 in Bangladesh during the bid round of 2012. It was followed by the signing of a Production Sharing Contract (PSC) between ONGC Videsh, OIL and Bangladesh Petroleum Exploration & Production Company Limited (BAPEX) in February 2014.
The pre-drilling activities were completed with the rig being on location in late 2019. The spudding scheduled for March 2020 was delayed due to COVID pandemic.