Energy Bangla

An international tender has been invited for offshore oil and gas exploration. Under the Offshore Bidding Round 2026, a total of 26 offshore blocks have been opened for bidding, including 11 shallow-water blocks and 15 deep-water blocks. Bids can be submitted until November 30.
Various details regarding the bidding round were formally presented at a press conference held on Sunday at the Ministry of Power, Energy and Mineral Resources.
Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud said the tender was invited swiftly as part of the government’s election manifesto commitments and its 180-day action plan. Commenting that energy security had not been properly ensured in the past, the minister said agreements with foreign companies would be signed while safeguarding national interests and sovereignty. He also noted that offshore gas resources would play a major role in resolving the country’s energy crisis.
The minister stated that investment requirements for a single block could range from USD 3 billion to USD 4 billion. If no oil or gas is discovered during exploration, the government will not reimburse investors; instead, it may confiscate bank guarantees. Therefore, several conditions in the Production Sharing Contract (PSC) have been revised to attract investors.
He said several international companies have already contacted the government, particularly firms from the United States and China that have shown interest.
The minister expressed regret that exploration activities in Bangladesh’s maritime territory had not progressed at the expected pace even after the country secured its maritime boundaries. He said neighboring countries are extracting and exporting gas from the same maritime region, while Bangladesh still does not know with certainty how much resource lies beneath its seabed.
Responding to questions about BAPEX’s capability, he said the government wants to strengthen the state-owned company. However, BAPEX still lacks the technology and experience needed for deep-sea exploration. Therefore, opportunities have been kept open for joint ventures with foreign companies so that BAPEX can gain practical experience.
At the press conference, State Minister for Power and Energy Anindya Islam Amit said the government has taken initiatives to expand exploration activities both offshore and onshore. At the same time, work is underway to finalize the renewable energy policy, which may be approved within the next one to one-and-a-half months.
The state minister further said that promotional activities are being conducted through local and international media, websites, and Bangladesh missions abroad to showcase Offshore Bidding Round 2026 to international investors.
Energy Secretary Md. Saiful Islam and senior officials of Petrobangla were also present at the press conference.
Several changes have been introduced in the draft Production Sharing Contract (PSC) to attract international investment. Companies will be allowed to export gas if Petrobangla declines to purchase it. Oil and gas prices will be linked to international Brent crude prices. Imported equipment will receive duty exemptions, and Petrobangla will bear the contractor’s income tax.
Interested companies may participate either individually or through joint ventures.