What is your source regarding the reserve of oil and gas at the bay of bengal? 18 billion barrels of oil and 200 trillion cft gas combinedly represent more then 50 billion barrels of oil which has a market price more then 5 trillion usd which is pretty significant.
The following article is little old. But, it says about the probable reserves of gas and oil in the Bay. By the way, value of 18 billion barrels is about $2.0 trillion at $120 per Barrel, and 200 trillion cft of gas is about $1 trillion @$5/1000 cft. So, in total, the value is about $3 trillion.
The news report does not seem to be saying that all the reserves lie in the BD territory, although it implies that the reserves lie in the disputed territory between BD and Burma. However, much of that disputed territory has been awarded to BD recently. Case in example is the area about 32 km south-west of St. Martin Island. Burma sent south Korean exploration ships in that area in December, 2008 during Caretaker govt. Burma had to leave the place because of a possible war.
Bay of Bengal
by Klaus Dodds
A territorial dispute is being played out in the Bay of Bengal between neighbouts Bangladesh and Myanmar (Burma). Last November, both sides dispatched naval vessels to the disputed region, which is centred close to an island called St Martin's. Diplomatic sources in Bangladesh said that Burmese ships had entered into 'Bangladesh waters', and urged the vessels to withdraw so that negotiations on maritime jurisdiction could take place. Troops on both sides of the shared border were said to be on high alert.
The Bay of Bengal forms part of the northeastern segment of the Indian Ocean, and is bordered by Sri Lanka, India, Bangladesh, Myanmar, Thailand and the northern tip of Indonesia. It occupies an area of more than two million square kilometres, and numerous rivers, including the Ganges, flow into the bay itself.
While the current dispute is over territory, its roots lie in what is believed to be under that territory: vast oil and gas reserves. Estimates suggest that there could be as much as 18 billion barrels of oil and up to 200 trillion cubic feet (5.7 trillion cubic metres) of gas located in two blocks under the bay. India, Bangladesh and Myanmar are all already exploiting these resources to varying degrees, and all three are continuing to search for new reserves to develop.