India eyes oil, gas exploration in Bangladesh

An Indian state-owned energy company has expressed interest in carrying out oil and gas exploration in Bangladesh's exclusive economic zone in the Bay of Bengal.

The Financial Express on Thursday quoted official sources as saying that the Indian Oil and Natural Gas Corporation (ONGC), in a letter to Bangladesh's Energy Adviser under the Ministry of Power, Energy and Mineral Resources (MPEMR) Mahmudur Rahman, has conveyed its intention officially a couple of weeks ago.

The Indian energy giant also intended to work with state-owned Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX) under a joint venture to conduct gas exploration in the offshore gas blocks.

"Since ONGC has extensive experience in offshore exploration in the Indian Ocean and Bay of Bengal, we are also in a position to extend our hands of co-operation to BAPEX in their offshore exploration projects in the Bay of Bengal," the daily quoted the ONGC letter as saying.

The ONGC also proposed to establish a joint laboratory services with the BAPEX whereby, the company said, the dependency of BAPEX on foreign assistance will be greatly reduced.

Both the companies may jointly undertake risk or crisis management in the hydrocarbon operation in Bangladesh, ONGC proposed in the letter.

ONGC can assist BAPEX to manage such eventuality during drilling or production operations, it said.

A senior MPEMR official said that the ONGC proposal came at a time when the Bangladesh government was taking preparations for the third round bidding for its offshore gas fields.

Source: Xinhua