Bangladesh's BAPEX to Start First Offshore Gas, Oil Venture

State-run Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX) is likely to commence its first offshore oil and gas exploration venture in July, Reuters reported.

The firm will bid in tenders for blocks in the Bay of Bengal in conjunction with a major international company. Bidding Bidding for eight shallow-water oil and gas blocks is likely be held by the end of July, Reuters said.

BAPEX currently produces 80 million cubic feet of gas per day from four onshore fields.

The compnay is also in talks with China's state-owned Sinopec Shengli to develop four onshore gas fields in Bangladesh's Chittagong hills.