Dhaka seeks US-investment in offshore oil, gas exploration

The prime minister’s addviser for Power, Energy and Mineral Resources Tawfiq-e-Elahi Chowdhury has sought cooperation of ExxonMobil, one of the world’s largest publicly traded international oil and gas companies, for investing in Bangladesh, especially for oil and gas exploration in offshore-places.

Tawfiq-e-Elahi encouraged ExxonMobil officials to invest in Bangladesh during a meeting held with senior officials of ExxonMobil at the Bangladesh Embassy in Washington DC on July 30, an official release said.

The adviser highlighted the important role of US companies in the energy sector in Bangladesh and welcomed their contribution to this regard.

He highlighted the need for investment in building storage facilities for renewable energy in Bangladesh. Balanced use of different energy sources is important for the development of Bangladesh, he said.

He urged ExxonMobil to expedite deep-sea exploration and invest in the construction of transmission networks and land-based facilities.

Officials of ExxonMobil expressed their interest in working with Bangladesh to ensure the required energy demand to keep pace with the current development of Bangladesh.

The meeting was attended by Bangladesh Ambassador to the US M Shahidul Islam and senior officials of Bangladesh Embassy and ExxonMobil.

Later, a memorandum of understanding was signed between Summit Oil & Shipping Co Ltd and Commonwealth LNG at the Bangabandhu Auditorium of the Bangladesh Embassy in Washington DC in presence of Tawfiq-e-Elahi Chowdhury.

Welcoming the signing of the MoU, the adviser said such steps would play a vital role in further expanding existing energy cooperation between Bangladesh and the United States.