Bangladesh Cancels Contract with Petronas & Tullow
The Bangladesh Government has cancelled a memorandum of understanding signed with Petronas Gas Bhd and Tullow Oil for a seismic survey and gas exploration. "We have cancelled the MOU signed with the two companies three years ago as they could not come up yet with any exploration program," State Minister for Energy and Mineral Resources A.K.M. Mosharraf Hossain said.
He said instead, state-owned petroleum exploration company, BAPEX, would hold a seismic study and exploration at gas block 11 in northern Sherpur district, about 100 km from the capital, Dhaka. The production sharing contract was for a 40-percent stake each for the two foreign companies in the block while the remaining 20 percent was to be held by BAPEX. "As the companies could not fulfill the criteria and failed to produce any program, we have decided to award the job to BAPEX," Hossain said.
Operates 12 Offshore Rigs
- After Europe's Gas Market Disasters, LNG May Come to the Rescue (Dec 12)
- Petronas Unit Agrees Share Swap With Shell's Africa Operator (Dec 05)
- Malaysia's Petronas Asked To Exit Myanmar In Protest Of Rohingya Crisis (Nov 08)
Company: Tullow Oil more info
- UK's Tullow Oil Lifts Outlook On Higher Crude Prices, Output (Nov 08)
- Tullow Oil Signs Exploration Contracts Offshore Ivory Coast (Oct 11)
- Britain's Tullow Launches Oil, Gas Exploration In Zambia (Aug 11)
Company: BAPEX more info
- Bapex Partners Santos in First Offshore Venture in Bangladesh's Block 16 (Jul 01)
- Niko Resources Finds Gas in Bangladesh (May 07)
- Bangladesh Cancels Contract with Petronas & Tullow (May 28)