Dhaka, May 23 -- Petrobangla is set to begin offshore oil and gas exploration. An international bidding round will be launched on Sunday for exploration in 27 offshore blocks located in deep and shallow waters. To attract investment, various incentives - including export opportunities - are being offered to international oil and gas companies. Bid proposals must be submitted by 1:00 PM on November 30.

Although Bangladesh settled its maritime boundaries with neighboring countries, it has failed to extract mineral resources from those areas over the past 16 years. During this period, energy shortages and import dependency have increased.

Petrobangla Director (PSC) Engineer Md. Shoaib said that the draft contract had been revised after ide...