The government has set a deadline for evaluating the tender for the “Offshore Bidding Round 2024” for oil and gas exploration in the sea. 

According to the conditions given by the government, the tender evaluation of the bidding round has to be completed by June 2025. 

A senior official of the Ministry of Energy and Mineral Resources confirmed the matter.

Sources at the energy division said the decision was taken at a meeting on April 25. 

Currently, Petrobangla is gearing up for the pre-bid meeting, which involves furnishing interested companies with the necessary information they require.

Simultaneously, pre-bid meetings will be convened to pique the interest of potential participants further.

On March 10, Petrobangla invited tenders for oil and gas exploration in the sea. 

It had invited 55 international companies to explore oil and gas in the 24 blocks of the Bay of Bengal. 

Bidders were granted a six-month window to submit their bids.

Earlier, the last tender for oil and gas exploration in the sea was called in 2016. 

Then in 2019, a new Production Sharing Agreement (PSC) was made, however, no tender was issued at that time.

After almost four years, the cabinet gave final approval to the new PSC in July last year.

Bangladesh settled maritime boundary disputes with India in 2012 and Myanmar in 2014. 

Currently, there are 15 blocks in the deep sea and 11 in the shallow sea.