Offshore data-free

Petrobangla has finally cut the prices of offshore data packages substantially, making four packages completely free and offering steep discounts on six others, according to sources.

Under the Offshore Bidding Round-2026, Petrobangla has 10 Data Sales Packages (DSTs). The highest price was $508,000 for 2D survey data from SS-4 and SS-9. That package has now been reduced to $5,000.

The lowest price was for 1974 seismic survey data, at $10 per line-km. It has now been made completely free. Under DSP-2, the data packages for 11 exploration wells drilled between 1969 and 2017 and for a hydrocarbon habitat study by WellDrill (UK) Ltd were priced at $5,000 each. These have now been made completely free in the revised list.

The price of DSP-4 has been cut from $314,600 to $5,000. This package includes 3,150 line-km of 2D seismic survey data (2016-17) from Block SS-11. The price of 305 sq km of 3D seismic survey data (2018) from the same block has been reduced from $152,500 to $5,000.

The price of 2D seismic survey data from Blocks DS-10 and DS-11 for 2011-12 has been reduced from $268,000 to $5,000.

The price of 3,077 line-km of 2D data from DS-11 and SS-7 has been cut from $307,700 to $5,000. The price of 3,580 line-km of 2D data from Block DS-12 was $358,000. The price of 5,079 (2015-17) data from SS-4 and SS-9 was $508,000, while Kanchan-1X well data were priced at $5,000. The price of 2D data from Data Package-8, Block-12, has been reduced from $358,000 to $5,000. In addition, Kanchan-1X well data under Package 10 have been made completely free.

“Companies have not shown much interest because that work was not done. The initiative to reduce data prices deserves praise, the country first needed to identify whether it wanted to do the data business or needed gas,” Amjad Hossain, former managing director of Bapex remarks.

Sector insiders said the move would increase the number of competitors in the offshore sector. They alleged that a syndicate had kept package prices sky-high for a long time.

In 2026, an international tender was invited for 15 deep-sea and 11 shallow-sea blocks. The deadline for submitting bids was November, but it has already been extended by four months to March 31, 2027.

Earlier, when the tender was invited in March 2024, seven multinational companies bought tender documents but refrained from submitting bids. The Bidding Round-2024 was therefore declared abandoned. Model PSC 2026 was finalised with concessions, including a gas price increase. Petrobangla has said three companies, including Turkish Petroleum Corporation (TPAO) and China National Offshore Oil Corporation (CNOOC), have bought tender documents.

After the settlement of maritime boundary disputes with Myanmar in 2012 and India in 2014 at international courts, Bangladesh established ownership over more than 118,813 sq km of maritime area.

The previous government ultimately failed to explore for oil and gas in that promising sea area. The interim government has followed the same path, leaving the potential waters untapped. Myanmar has long been extracting gas from the adjacent part, which is why Bangladesh’s prospects of finding gas are considered very bright.

While production from domestic gas fields is declining, demand is rising. Production once stood at 2,800 million but has now fallen to 1,620 million. Stagnation in oil and gas exploration is considered one of the main reasons.

Petrobangla Chairman Abdul Mannan told “We believe that reducing the prices of data packages will increase competition. Bangladesh will benefit. That is why prices have been reduced. Several packages have been made completely free and open.”