Bangladesh is finally going to issue a fresh international tender next week for oil and gas exploration in the Bay of Bengal. Many international companies have already shown interest in bidding.
Petrobangla, the government-owned agency involved in natural gas, oil, coal and mineral resources, has invited 55 companies in the tender process.
Sources in the Fuel and Mineral Resources Division and Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) said a multi-client survey shows there is gas potential in the Gulf.
The tender is likely to be issued on March 10, giving companies six months to participate in the bidding.
There has been no significant progress in oil and gas exploration in the Bay of Bengal in the last 12 years since disputes over maritime boundaries with neighboring India and Myanmar were resolved. Although four foreign companies began exploration work, three have left the Bay of Bengal.