Oman Keen to Invest in Bangladesh Oil, Gas Sector

Oman Oil Company, which is keen to invest in Bangladesh’s oil and gas sector, has submitted a proposal to its counterpart in Bangladesh, namely, Petrobangla, for joint venture deals, Oman Observer reports.

The Middle Eastern nation had established its full-fledged embassy in Bangladesh last September. Since then the two countries have seen a flurry of activity as they have started gearing up to take their bilateral co-operation higher, the news report said.

Many multinational companies have already invested in gas exploration in Bangladesh. US based Chevron Energy is currently producing around 1150mmcfd gas, which is roughly half of Bangladesh's daily production. Energy prices in Bangladesh are most competitive in the region.