Energy firms swarm to Bangladesh


Dhaka: Bangladesh invited bids yesterday from international companies to explore offshore oil and gas reserves. Nine shallow-water and three deep-water blocks in the Bay of Bengal were open for production-sharing contracts with companies.

Details of the international tenders were posted today with the tender decisions being announced by the end of next June, with submission deadlines slated for mid-March.

Singapore’s Kris Energy is one of a number of international firms vying for exploration contracts in Bangladesh’s Bay of Bengal. Kris will face stiff competition from the likes of Brazil's Petrobras, Norway's Statoil, and Indian Oil and Natural Gas Corporation Ltd (ONGC), who have all expressed an interest in making their debut in the country. On top of that, those already operating in the country, such as CNOOC and Sinopec from China, ConocoPhillips from the US and Australia’s Santos are all keen to get in on the next round of bidding.  [10/12/12]

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