Energy And Mineral Resources Division News

The third round of bidding for allocation of the proposed 27 offshore blocks to the international oil and gas companies for hydrocarbon exploration is likely to be held next month, according to a report on www.energybangla.com. The Energy and Mineral Resources Division, in a major development, asked Petrobangla this week to go for direct bidding for all 27 mid- and deep-sea blocks, shelving the decision whether to go for the third round of bidding for allocation of half the blocks and to go for speculative seismic survey for the rest. (Source: www.energybangla.com)

The Prime Minister of Bangladesh approved the policy on the third round bidding for deep-sea hydrocarbon exploration in the country's exclusive economic zone in the Bay of Bengal, according to a Financial Express report. The policy will now be placed before the cabinet for its approval. The seismic surveys in deep sea up to 200 nautical miles into the Bay of Bengal will help locate hydrocarbon reserves, if there are any. After getting a reliable picture of energy potentials in the deep sea, the government would go for the third round bidding, according to the report. The Energy and Mineral Resources Division earlier prepared a draft policy outlining various strategies for the proposed third round bidding.