Oil and gas firm Cairn Energy (CRNZF)
announced plans for further exploration and development drilling in Bangladesh's offshore gas field. Cairn Energy is currently operating Bangladesh's only offshore gas field
at Sangu in the Bay of Bengal, off Chittagong port. In addition, Cairn is actively exploring in blocks 5 and 10, where new seismic data has been acquired, and is participating with Chevron (CVX)
in block 7, where a seismic campaign commenced recently. It has identified a new possible gas field at Char Jabbar under Noakhali district in block 10 with an indication of 2.8 tcf of gas reserves. Cairn also conducted seismic surveys at Meghnama and at Hatiya under the block 16. The possible gas reserve would be 3.5 tcf at Meghnama and 1.8 tcf at Hatiya, Reuters reported.