The Government of Bangladesh is expected to sign an agreement with ConocoPhillips to undertake seismic surveys in prospective deepwater offshore blocks in Bangladeshi waters.

Under the Memorandam of Understanding to be signed between ConocoPhillips and state-owned Petrobangla, ConocoPhillips will conduct seismic surveys and search for the presence of gas in the Bay of Bengal.

The two parties will also carry out negotiations regarding the company’s demand for the relaxation of a compensation provision regarding gas-field blowouts and the continuation of its contract obligation.

ConocoPhillips was awarded two deepwater gas blocks, DS-08-10 and DS-08-11, in the Bay of Bengal during the 2008 bidding.