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(Image courtesy of KrisEnergy)

KrisEnergy announced Wednesday that it has been awarded a 45 percent non-operating working interest in the production sharing contract for the shallow sea block SS-11 offshore Bangladesh.

The value of the deal has not been disclosed.

Block SS-11 covers an area of 1,728 square miles in the Bay of Bengal over the Bengal Fan.

The majority of the block lies in shallow waters up to 656 feet  with the furthest southwest portion extending into water depths up to 4,921 feet.

The production sharing contract has an initial five-year term, with an associated work commitment of the acquisition and processing of 1,176 miles 2D seismic data and 115 square miles 3D seismic data and the drilling of one exploration well.

KrisEnergy’s director of Business Development Richard Lorentz said, “Since our acquisition of a 30 percent interest in onshore Block 9 in April 2013, we have been looking at opportunities to expand our portfolio in Bangladesh.We see high potential in the geology in the offshore area although there has been negligible exploration activity in SS-11 itself. This award also marks a new partnership with Santos, which has more than six years of operating experience in country. We look forward to our collaboration.”

In 2013, KrisEnergy acquired a 30 percent operating working interest in Block 9 onshore Bangladesh, which contains the producing Bangora gas field.