Metropolis Desk-
Bangladesh is aiming to revive its chances of finding gas in the sea by finalizing a new offshore production-sharing contract and a survey.
The government expects to call a tender by November after finalizing an attractive model contract that benefits both parties.
The new Model Production Sharing Contract 2023, prepared by Petrobangla and Wood Mackenzie, will prevent gas prices from rising above LNG prices.
Bangladesh will receive a maximum of 65% of the gas after recovery, with foreign companies prioritizing Bangladesh in selling its share.
A final decision may come after September, and the appointment of a contractor or bidding process depends on the government’s decision.
