Petrobangla signs deal with Santos-Kris Energy

State-owned Petrobangla signed a production sharing contract (PSC) on Wednesday with Santos-Kris Energy, an Australia-Singapore joint venture, for the block No-SS-11 in the Bay of Bengal. Officials at the Energy Division, Petrobangla, Santos, Kris Energy and Bapex signed the contract on behalf of their respective sides at a function at Petrobangla. Finance Minister AMA Muhith was present as the chief guest. Santos-Kris Energy JV won the block SS-11 by participating in a re-tender in July last year as a lone bidder. Petrobangla first invited tender in December last year and received offer from IOCs in April last year where only two IOCs submitted bids for three blocks. At that time, a total of nine (9) blocks were placed for bidding, according to UNB.