Chinese corporation, BGP, announces the launch of 2D seismic survey for exploration of oil and gas in two blocks of the Bay of Bengal.
Energy and Mineral Resources Division secretary says that the survey started this week, and should end by April.
BGP was chosen by ConocoPhillips to conduct the survey and it will determine the exact location and the volume of oil-gas reserves in blocks 10 and 11 in the Bay.
The government signed a production-sharing agreement (PSC) with ConocoPhillips authorising it to operate seismic surveys in an area of 5158 square kilometres.
According to the committee’s claims, the deal allows the US firm to take away 80 percent of oil and gas it will extract off the deep-sea.
[mappress] Subsea World News Staff , February 23, 2012; Image: BGP