Potential companies can bid for multiple blocks, with the prospect of signing contracts under the new Bangladesh Offshore Model Production Sharing Contract 2023. Credit: Arvind Vallabh on Unsplash.

The Government of Bangladesh and Petrobangla have officially launched the Bangladesh 2024 Offshore Bid Round, inviting international oil companies (IOCs) to explore opportunities in the country’s oil and gas sector.

The bid encompasses nine shallow-sea and 15 deep-sea blocks.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The shallow-sea blocks available for bidding are SS-01, 02, 03, 05, 06, 07, 08, 10 and 11, while the deep-sea blocks include DS-08 to DS-22.

Petrobangla has outlined specific qualification criteria for bidders, which include a minimum offshore daily production requirement and mandatory global exploration experience.

IOCs can bid for multiple blocks, with the prospect of signing contracts under the new Bangladesh Offshore Model Production Sharing Contract 2023.

See Also:

The qualification criteria mandates that individual bidders or at least one member of a joint venture must operate with a minimum offshore daily production of at least 15,000 barrels of oil or 150 million standard cubic feet of gas.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In a separate announcement, TGS, in partnership with Petrobangla and SLB, has acquired a 2D multi-client seismic data survey over 75,000km² across all 24 blocks on offer in the bid round.

TGS multi-client executive vice-president David Hajovsky said: “The Bengal Fan is one of the world’s largest deep-water fans with significant evidence of working petroleum systems. It is widely considered one of the most extensively underexplored frontier regions.

“With limited existing offshore Bangladesh data, this new high-quality seismic, combined with the revised production sharing contract 2023 (PSC), is a critical component for companies to evaluate and submit competitive bids for the blocks on offer in the bid round.”