Bangladesh has signed a production sharing contract (PSC) with two international oil companies for exploitation of an offshore shallow gas block in the Bay of Bengal.
The government and Petrobangla have jointly signed the contract with Australia-based Santos and Singapore-based Kris Energy Limited on Wednesday.
Petrobangla Chairman Hossain Monsur confirmed of the deal signed and said another block is likely to be inked for sharing production with ConocoPhilips.
More to follow...
