UNB, Dhaka :
At long last, the joint venture of US oil major ConocoPhillips and Norway’s Statoil looks set to be awarded all three of the deep sea blocks in the Bay of Bengal it desires, with the Cabinet Economic Affairs Committee slated to consider their proposal in its meeting on Wednesday.
Earlier, the government’s decision was to award only two blocks to the US-Norwegian JV. But now the government seems to be backtracking from its earlier stance that no single company or joint venture will get more than two blocks in the deep sea.
According to official sources, the Energy Division last week accepted a proposal of the state-owned Petrobangla to award all three deep sea blocks (DS-12, DS-16 and DS-21) and forwarded it to the Cabinet Division for approval of the Cabinet Economic Affairs Committee (EAC).
The EAC, headed by the Finance Minister, is the highest approval body with the authority to decide on such important matters.
At long last, the joint venture of US oil major ConocoPhillips and Norway’s Statoil looks set to be awarded all three of the deep sea blocks in the Bay of Bengal it desires, with the Cabinet Economic Affairs Committee slated to consider their proposal in its meeting on Wednesday.
Earlier, the government’s decision was to award only two blocks to the US-Norwegian JV. But now the government seems to be backtracking from its earlier stance that no single company or joint venture will get more than two blocks in the deep sea.
According to official sources, the Energy Division last week accepted a proposal of the state-owned Petrobangla to award all three deep sea blocks (DS-12, DS-16 and DS-21) and forwarded it to the Cabinet Division for approval of the Cabinet Economic Affairs Committee (EAC).
The EAC, headed by the Finance Minister, is the highest approval body with the authority to decide on such important matters.
