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

 Published: 11:03, 18 March 2024

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

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

On Sunday (March 10), the country 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.