Bid submission deadline for int’l offshore gas block bidding expires tomorrow
Bidders, either individually or in association with other companies, can bid for one or more blocks
The deadline for bid submission in the international offshore gas block bidding is set to expire at 1 pm tomorrow (9 December).
The Bangladesh Oil, Gas, and Mineral Corporation-Petrobangla will immediately open the bidders' documents afterward.
Earlier, the government agency announced the offshore bidding on 10 March, inviting international oil and gas companies to explore areas in the Bangladesh maritime zone in the Bay of Bengal.
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Initially, 9 September was set as the deadline for bid submissions but at the request of bidders, the deadline was extended by three months until 9 December.
The tender, titled "Oil and Natural Gas Exploration Under Bangladesh Offshore Bidding Round 2024," was published in local newspapers and on the websites of relevant government entities, including Bangladeshi missions abroad.
As per the tender, a total of 24 offshore blocks are available for bidding—nine shallow sea blocks and 15 deep-sea blocks. The shallow sea blocks are SS-01, 02, 03, 05, 06, 07, 08, 10, and 11, while the deep-sea blocks are DS-08, 09, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, and 22.
According to top officials at Petrobangla, seven international oil companies (IOCs) purchased the tender documents and obtained necessary data as part of their preparations to submit bids.
Petrobangla Chairman Zanendra Nath Sarker said these companies show strong interest in investing in oil and gas exploration in the country's maritime area in the Bay of Bengal.
Sources indicate that the multinational oil and gas companies that purchased the bidding documents included ExxonMobil and Chevron (USA), Petronas (Malaysia), the joint venture TGS and Schlumberger (Norway and France), Inpex Corporation and Jogmac (Japan), China National Offshore Oil Corporation (CNOOC), Eni SPA (Italy), Chris Energy (Singapore), and ONGC (India).
Bidders, either individually or in association with other companies, can bid for one or more blocks.
Contracts with successful bidders will be signed in accordance with the Bangladesh Offshore Model Production Sharing Contract 2023, as outlined in the tender.
Qualification criteria for bidders include offshore daily production of at least 15,000 barrels of oil or 150 million standard cubic feet (mmsc) of gas, and at least one global experience in oil and gas exploration and production outside their home country.
