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| Thailand's PTT Exploration and Production Public Company Limited (PTTEP) has signed a deal to take a 30 percent stake in a project to explore for natural gas in Bangladesh. The PTTEP has signed the agreement with TOTAL E&P Bangladesh, a wholly owned subsidiary of TOTAL S.A. to become a partner in Blocks 17 and 18 in Bangladesh operated by TOTAL E&P Bangladesh, marking its first venture in petroleum exploration and production in South Asia. The agreement will give PTTEP Bangladesh Limited, a wholly owned subsidiary of PTTEP, a 30 percent interest in these blocks upon receiving approval from the Bangladesh government and consent from the other partners who are Tullow Bangladesh Limited (32 percent), Okland Bangladesh Limited (4.0 percent) and Rexwood Offshore Holdings Limited (4.0 percent). Blocks 17 and 18 cover an area of 13,724 square kilometers (8508.88 miles) and are situated 150 kilometers (93 miles) away from the country's port city, Chittagong. The area is considered as having high gas potential because it is only 40 kilometers (24.80 miles) south of Sangu, a gas field now in operation and 80 kilometers (49.60 miles) north of Shwe gas field in Block A1 in Myanmar, according to the statement. "Last year, we expanded our investment to four more countries namely Egypt, Bahrain, New Zealand, and Australia while in 2008 we entered into Bangladesh," Maroot Mrigadat, President of PTTEP said. "It gives us a chance to work with many oil firms from all over the world. These new partnerships will give us new connections which will in the end help us to further expand our business to new frontiers." Prof Tamim in Charge of Power & Energy Ministry Prof M Tamim of Petrochemical Engineering Department of Bangladesh University of Engineering and Technology (BUET) has been given the responsibility of Ministry of Power, Energy and Mineral Resources as a Special Assistant to the Chief Advisor. Following the recent reshuffle in the Council of Advisors, Tamim along with Barrister Debashish Roy, the Chakma Raja and Brigadier General (retd) MA Malek, a former Chairman of Bangladesh Power Development Board (BPDB), was appointed with the status of State Minister as Special Assistant to the CA. At first he was given the charge of Energy and Mineral Resources Division. Then he was also given the responsibility of the Power Division |
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