Exploration & Production

Bangladesh to fix terms ahead of 2019 offshore round

Bangladesh is looking to improve the terms of its production-sharing contracts in the hope of attracting IOCs to its upcoming offshore licensing round Bangladesh is looking to improve the terms of its production-sharing contracts in the hope of attracting IOCs to its upcoming offshore licensing round.
By Damon Evans 13 September 2018 0 32523
The Deepsea Stavanger offshore rig. (Ophir Energy)

Bangladesh, which has some of the worst fiscal terms for oil and gas exploration in South Asia, is attempting to improve its production-sharing contracts (PSCs) in advance of a new offshore licensing round planned for 2019.

Considerable changes to contract terms are under discussion at Bangladeshi NOC PetroBangla, including specific terms for deepwater plays that recognise the risk of high-cost exploration and the subsequent higher cost of development. Officials at the NOC, which announced the offshore licensing round in late August, also reported...