Dhaka, May 2 -- A much-sought-after bidding round offering some 26 offshore hydrocarbon blocks to potential international oil companies (IOCs) with sweetened terms is expected to be launched shortly, says a senior official of Petrobangla.

The energy and mineral resources division (EMRD) under the Ministry of Power, Energy and Mineral Resources (MPEMR) has forwarded the model production-sharing contract (MPSCs) to the cabinet committee on economic affairs for final approval.

The MPSC is expected to get the seal of approval in the cabinet committee next week and the bid round for the offshore oil-and-gas exploration would be launched immediate after obtaining the nod, the state corporation official adds.

The newly elected BNP-led governm...