The government has initiated a timeline for assessing tenders for the “Offshore Bidding Round 2024,” aimed at oil and gas exploration in the sea. Per government stipulations, the evaluation of these bids must conclude by June 2025, as confirmed by a senior official from the Ministry of Energy and Mineral Resources.
This decision was formalized during a meeting held on April 25, as revealed by sources within the energy division. Currently, Petrobangla is preparing for pre-bid meetings, intending to equip interested companies with essential information and generate further interest among potential participants.
On March 10, Petrobangla officially invited tenders for oil and gas exploration in the sea, extending invitations to 55 international companies to explore 24 blocks within the Bay of Bengal. Bidders were allotted a six-month window to submit their proposals.
This tender marks a significant milestone, considering the last tender for offshore exploration occurred in 2016. Despite a new Production Sharing Agreement (PSC) being established in 2019, no tender was issued at that time. However, the cabinet granted final approval to the new PSC in July of the following year.
Bangladesh’s resolution of maritime boundary disputes with India in 2012 and Myanmar in 2014 has paved the way for offshore exploration endeavors. Presently, there are 15 blocks in the deep sea and 11 in the shallow sea, representing promising opportunities for the country’s energy sector.
