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WorldPosted at: Mar 11 2024 8:57AM


Bangladesh announces int'l exploration bid for 24 oil, gas blocks

Dhaka, Mar 11 (UNI) Bangladesh on Monday announced an international bid round for the exploration of oil and natural gas in 24 blocks in the Bay of Bengal under a new Production Sharing Contract (PSC) to enhance energy production.
A notice was published on the website of the state-owned Oil, Gas, and Mineral Corporation and in advertisements in several national newspapers. Apart from this, letters were sent to foreign embassies in Dhaka to inform them about the tender.
The bid is open to participation from 55 international companies. The invitation, the first in eight years, extends to nine shallow sea blocks and 15 deep-sea blocks for oil and gas exploration, as the country resolved maritime disputes with India in 2012 and with Myanmar in 2014.
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