Will invite int’l bids for energy blocks Energy minister tells JS

Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood Tuku yesterday told the parliament that there are plans to invite international bidding for oil and gas exploration blocks in the Bay of Bengal soon.

While responding to MP Nurul Islam, the minister said with the experience of “Bangladesh Offshore Bidding Round 2024” and based on the review of production sharing contracts (PSC) of different countries in the international context, a draft has been prepared to update the existing “Bangladesh Offshore Model PSC 2023” with the aim of attracting international oil companies. The Legislative and Parliamentary Affairs Division has vetted on the prepared draft.

Taking this opinion into consideration after the final approval of the “Bangladesh Offshore Model PSC 2026” (draft), new gas and oil exploration activities in deep and shallow sea areas will be strengthened.

“And there are plans to convene a new offshore bidding round soon,” Tuku said.

While answering another query from Mosharraf Hossain MP, the minister said currently the country has 29.74 trillion cubic feet (TCF) recoverable gas reserves.

Of this, 22.11 TCF of gas has been extracted as of December 31, 2025, and 7.63 TCF remain available. If no new gas field is discovered and gas is supplied at the current rate, approximately 1,700 million cubic feet per day, the remaining 7.63 trillion cubic feet of gas can be supplied for approximately 12 years based on the available capacity.

While answering another question from Sultan Mahmud Babu MP, the energy minister said the government has a multifaceted plan to reduce import dependence in the energy sector and increase domestic gasoline, fuel productions.

Till date, 26 wells are being drilled and worked over under the 50 and 100 well drilling and workover plans at various stages.

Bangladesh Petroleum Exploration & Production Company (BAPEX) has taken steps to have seismic survey activities.

Feasibility studies have been planned for the construction of open-pit coal mines in the northern and southern parts of the Barapukuria coalfield in Dinajpur, the development of an underground mine in a 15 sqkm area in the north-western part of the Jamalganj coal field, spanning Naogaon and Joypurhat, and the establishment of an underground mine in the Khalaspir coalfield in Rangpur.  In addition, there is a plan to develop an underground mine to extract coal from the Dighipara coalfield in Dinajpur.