0 Bangladesh invites foreign firms to understand more about offshore gas.

Business News

Bangladesh on Sunday asked bids from worldwide companies to understand more about offshore gas and oil reserves, the official stated, because the fast-growing economy seeks to satisfy its soaring energy demands.

Condition energy group Petrobangla director Muhammad Imaduddin told AFP that nine shallow-water and three deep-water blocks within the Bay of Bengal were open for production-discussing contracts with companies.

"We will publish particulars from the worldwide tenders on our website by tomorrow (Monday)," Imaduddin stated adding the blocks could be granted to qualified firms through the finish of next June, with submission deadline in mid-March.

The Offshore Putting in a bid Round 2012 would be the sixth within the good reputation for impoverished Bangladesh that has extensive gas reserves, but is facing a shortfall because of soaring consumption.

Government bodies offered the blocks following a Not tribunal in March this season ended a lengthy-standing territorial dispute between Bangladesh and Myanmar within the gas-wealthy Bay of Bengal.

In '09, Dhaka's putting in a bid for offshore energy search had a tepid response as only US giant ConocoPhillips signed deals for 2 blocks from the 28 blocks available which incorporated some that Myanmar and India had territorial claims.

"This time around we're positive about bringing in more companies within the putting in a bid. All 12 blocks have been in the undisputed Bangladeshi waters," Imaduddin stated.

Bangladesh wishes to resolve maritime border dispute with India in 2014.

Bangladesh is urgently attempting to locate new causes of energy because the government has stated the country's current gas reserves, at 16.3 trillion cubic ft, might run out inside a decade at the moment consumption rates.

The nation's economy continues to be growing at a lot more than six percent yearly during the last decade with industrial growth hanging around 10 percent in a number of years.

See Also: Bangla News Paper.

Post Tags: Vatural Gas Bangladesh, Natural Gas in Bangladesh, Batural Gas of Bangladesh, Bangladesh Gas Reserve, Oil and Gas.