Int’l bidding for offshore oil, gas exploration likely on Mar 10

DE Online Desk
The government is likely to float international bidding on March 10 for inviting foreign companies to explore oil and gas in the country’s in the Bay of Bengal.
“We’re hopeful a good number of companies will participate in the bidding round,” chairman of Petrobangla Zanendra Nath Sarker told media recently.
According to Petrobangla officials, the state hydrocarbon corporation, the bid invitation document will be sent to local newspaper in a day or two to publish it.
In addition, it will be published on the websites of Implementation Monitoring and. Evaluation Division (IMED) and Bangladesh’s foreign mission abroad, they said. Do those not observing March 7 actually believe in Bangladesh’s independence? — Foreign Minister asks Besides, the Petrobangla has a plan to hold a press conference on March 11 to brief the media about the plan and other nitty-gritty of the initiatives.
Prime Minister’s Energy Advisor Dr Tawfiq-e-Elahi Chowdhury told UNB that the government will try to wrap up the bidding in next 6 months.
Many foreign companies have contacted the government and expressed their interest to join the bidding round,he said adding “Unless we conclude the bidding, it’s difficult to say how many companies are coming to participate in the bidding round.” He also noted that the government will arrange different programmes as part of campaign for the offshore bidding.
Earlier, on July 26 last year, the Cabinet Committee on Economic Affairs approved the draft ‘Bangladesh Offshore Model Production Sharing Contract (PSC) 2023’ in order to invite international bidding for hydrocarbon exploration in offshore areas of the country.