Bangladesh offshore water energy assets in dispute

CHANDPUR, Bangladesh, Oct. 12 (UPI) -- Bangladesh's government has called for international arbitration to resolve conflicting territorial claims in the Bay of Bengal's offshore waters.

The Daily Star reported Sunday that Foreign Minister Dipu Moni told journalists that the government hoped to resolve maritime boundary disputes with India and Myanmar through the government's call for international arbitration. According to Moni, the government has formally notified the missions of the two neighboring countries prior to submitting the dispute for arbitration. Moni commented that exploration and exploitation of Bangladesh's offshore natural resources are essential for the development of the country, as it is largely bereft of onshore hydrocarbon deposits.

In 2007 Bangladesh's oil production was a paltry 6,746 barrels per day, while the country imported 83,220 bpd. Bangladesh's reserves are estimated at 28 million barrels, but the picture is considerably brighter regarding the country's natural gas reserves, estimated at 141.6 billion cubic meters.

Bangladesh's Bay of Bengal maritime dispute with India concerns the contested New Moore (also known and South Talpatty or Purbasha) Island, while after 21 years, Bangladesh's maritime frontier with Myanmar also remains unresolved.