To make the 'Offshore Model PSC, 2019' updated and competitive in the global context, 'Bangladesh Offshore Model PSC, 2023' was prepared based on the opinion of international consultants and Petrobangla's own review, which was approved by the Cabinet Committee on Economic I went. Matters on July 26, 2023.
The new PSC includes several points aimed at creating exploration opportunities for international oil companies in the offshore areas of Bangladesh.
One of the points of the newly created PSC is to maximize annual cost recovery for deep and shallow sea areas at 75 per cent, the release said.
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