The deadline for submitting tenders for oil and gas exploration in the Bay of Bengal has been extended by three months, according to sources from Petrobangla. The extension, granted at the request of interested companies, allows bidders until December 9 to submit their proposals.

The Petrobangla authorities also hope that they will get decent proposals within this time. The bidding period will not be extended after this extended time period. Earlier, the Petrobangla authorities had set a deadline for submitting bids until September 9.

“Seven companies have expressed their interest in the bidding. Some of these companies  will participate individually, while others are showing interest in working through joint ventures. Usually, in Europe and America, joint venture projects of this nature need more time because of the legal procedures. That is the reason why the participating companies have wanted more time. As seven companies have shown their interest, the number of bidding companies will reduce to three or four if  two or three of them decide to work together.” Said Mr Sarkar.

Mr Sarkar further stated, “We are certain that some of the best companies in the world will participate in the bidding. We will be able to open the tender in December. However, the deadline will not be extended any further. By December, we will get good proposals. Some of the famous companies that have expressed their interest in the tender are ExxonMobil, Chevron, and KrisEnergy.”

Towards the end of the Awami era, the 'Offshore Bidding 2024' was introduced. After a long wait, on March 10, an international tender was called for oil and gas exploration in the Bay of Bengal. At that time, bids were invited to explore the sea. By May, seven foreign companies bought tender documents to explore the Bay of Bengal. At first, the deadline for purchasing tender documents was set for September 9. However, Petrobangla decided to extend its deadline, pushing it up to December 9.

According to Energy and Mineral Resources Department and Petrobangla, more than 50 companies were invited to participate in the tender. Previously, the German company Schlumberger has done a multidimensional survey to know whether there is gas in the Bay of Bengal. Furthermore, Petrobangla acquired data ConocoPhillips which conducted a two-dimensional survey. It also indicates that gas can be found in the Bay of Bengal.

Md. Nurul Alam is the secretary of the Energy and Mineral Resource Department. He informs Bangladesh Pratidin, “Our PSC is one of the best out there. By introducing this tender, we wish to be optimistic and initiate our oil and gas exploration activities in the sea”

After the “conquest of the sea”, a long time has passed. Yet Bangladesh has not made any significant progress when it comes to exploring oil and gas in the Bay of Bengal. Previously, four foreign companies had started work, but three of them left.

bd-pratidin/Rafit