Petrobangla now plans to invite int'l bidding for onshore blocks for hydrocarbon exploration: Chairman

After floating bids for offshore oil and gas exploration, Petrobangla now plans to invite international bidding for onshore hydrocarbon exploration.

"We're now working on preparing the bidding documents for onshore oil and gas exploration," said Petrobangla Chairman Zanendra Nath Sarker while speaking at a workshop of the energy reporters at the capital's Petrocentre.

He noted that his organisation will appoint a foreign consultant to assist Petrobangla in attracting the international oil companies (IOCs).

Petrobangla organised the workshop for the members of the Forum for Energy Reporters Bangladesh (FERB) to inform them about the technical and financial issues of the "Oil and Natural Gas Exploration Under Bangladesh Offshore Bidding Round 2024".

Earlier, Petrobangla, the oil, gas and mineral corporation, floated the offshore bidding on 10 March this year inviting international oil and gas companies to explore Bangladesh's maritime area in the Bay of Bengal.

The tender, named "Oil and Natural Gas Exploration Under Bangladesh Offshore Bidding Round 2024", was published in local newspapers and websites of concerned government entities including Bangladeshi missions abroad on Sunday giving six months time until September 9, 2024 for submission of the bids.

As per the floated tender, a total of 24 offshore blocks — of which nine are shallow blocks — and 15 deep sea blocks are available for the bidding round.

The nine shallow sea blocks are SS-01, 02, 03, 05, 06, 07, 08, 10 and 11) and 15 deep sea blocks are DS-08, 09, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21 and 22.

The bidder, single or in association with other companies, can bid for one or more blocks.

Contracts will be signed with the successful bidders in line with the Bangladesh Offshore Model Production Sharing Contract 2023, said the tender.

The country has a total of 48 gas blocks of which 26 are offshore and 22 onshore blocks.

The Petrobangla officials informed that some 11 onshore blocks will be placed for bidding as currently two international companies remained engaged in 11 onshore blocks.