Home ›› 30 Oct 2021 ›› Front
Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) has invited international tenders for appointing consultants to amend the Model Production Sharing Contract 2019 (Model PSC 2019). The invitation was uploaded on its website on Thursday.
Companies with at least 15 years of experience in the international oil and gas sector are eligible to participate in the tender process.
According to Petrobangla sources, the corporation wants to amend the PSC before calling for tenders for oil and gas exploration in the sea in June next year. Besides, the amendment will include provisions for the sale and export of gas extracted from the shallow sea.
Sources said the corporation made the decision as the country is facing an energy crisis.
Currently, the country’s energy demand is met by buying gas from the international market.
Therefore, the government is trying to find new avenues to meet the fuel demand from the sea as there is not much hope on land, sources said.
According to Petrobangla sources, the government wants to attract multinational companies to nine unutilised shallow sea blocks.
In this regard, Petrobangla will open the bid on November 21.
It costs $8 crore to dig a well in the deep sea, and $3-4 crore in the shallow sea, sources said.
The country’s coastline is divided into 26 blocks. Of these, 11 are in the shallow sea, and 15 in the deep sea.
Currently, work is going on in two blocks in the shallow sea, leaving nine unused.
Initiatives have been taken to explore gas in these unexplored blocks. If gas is found there, the country’s fuel crisis will be reduced.
However, the exploration and extraction process takes a long time, sources said.
