Bangladesh offers 'win-win' deals for offshore gas exploration

Dhaka opens bidding for sites in Bay of Bengal after eight-year hiatus

20240313 Bay of Bengal

The Bay of Bengal is seen as a promising source of natural gas, but Bangladesh struggles with lagging exploration. © AFP/Jiji

FAISAL MAHMUD, Contributing writer

DHAKA -- Bangladesh is ending a yearslong hiatus on oil and gas exploration in the Bay of Bengal as it scrambles to plug dwindling energy reserves that could run out in under a decade.

On Sunday, the South Asian nation opened bidding to dozens of international companies, including ExxonMobil, Chevron, ConocoPhillips and China's Sinopec, on 24 offshore blocks spread across 15 deep and nine shallow waters.

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