ONGC to Get Three Bangladesh Gas Blocks

Bangladesh will likely to award three shallow gas blocks to India’s ONGC next month.

Initial agreement may be signed this month while the production sharing contract is likely to be signed not before September, bdnews24.com reported.

ONGC’s overseas arm, ONGC Videsh will be awarded blocks SS-04 and SS-09 as they were the sole bidders, the news website said. It will also have the right to explore Bangladesh’s first discovered offshore gas field, Kutubdia, bdnews24.com added.

Bangladesh Petroleum Exploration and Production Company (BAPEX) will have a 10 per cent carried interest stake in all the three blocks.

Depending on the gas find, ONGC could invest in setting up power, fertiliser and petrochemical plants in Bangladesh, the website said.