Seven major foreign companies have purchased tender bids for the exploration of offshore gas and oil in the country, State Minister for Energy Nasrul Hamid said on Wednesday (May 8).
“So far, seven companies have bought the tender bids, with a total of 15 business entities expressing interest in participating in the offshore oil and gas exploration,” said the state minister following a seminar on the bidding round at a hotel in Dhaka.
More than 15 foreign companies took part in today’s seminar, expressing their interest in participating in the tender bids, said Nasrul Hamid.
He said, “The government plans to complete the sale and submission of tender bids by September this year and will strike deals next year following an evaluation.”
"If everything goes according to plan, gas extraction will be possible within 7-8 years," the state minister added.
Tawfiq-e-Elahi, energy adviser to the prime minister, said they are receiving a huge response to the offshore bidding. The bidders are benefiting from the multi-client seismic data for the blocks they intend to bid for from TGS-Schlumberger.
Earlier, on March 11, Petrobangla issued the offshore bidding tender, inviting international oil and gas companies (IOCs) to explore Bangladesh's maritime areas in the Bay of Bengal.
The state-owned gas company invited the top 55 foreign companies to that programme.
Bangladesh established its authority over 118,813 square kilometers of sea area following the settlement of maritime border disputes with India in 2012 and with Myanmar in 2014.
