The New Nation - Internet Edition

UNB, Dhaka

Petrobangla is now set to submit its evaluation report on the 3rd round international bidding for hydrocarbon exploration in the country's maritime territory to Energy Ministry yesterday.

After having received advice from eminent lawyer Dr. Kamal Hossain, the bid evaluation committee has decided to submit the report, according to official sources.

An influential member of the committee told UNB Tuesday that the committee is going to sit in its concluding meeting today to wrap up their evaluation. Petrobangla, the state-owed hydrocarbon and mineral resource corporation, last week finalized its evaluation on the proposals received under the 3rd round bidding and sent those to its legal consultant Dr. Kamal Hossain for his scrutiny and advice.

A top official of Petrobangla claimed that Dr. Kamal Hossain has given positive notes and some advice regarding financial dealings.

Petrobangla invited the international tender on the 3rd round bidding on February 15, received bids on May 7 and was planning to make the final award by September 2008.

Bids were invited for a total of 28 blocks, of which 8 are shallow-water blocks and 20 are deep-water blocks. Only 7 IOCs submitted their offers for 15 blocks, while no offer was for 13 blocks.

After the evaluation, it was found that only two international companies' offers are responsive for 9 blocks.

US-based ConocoPhilip came out as responsive for a total of 8 Blocks which are 10, 11, 12, 15, 16, 17, 20, while Tullow emerged as responsive for Block 5.

The caretaker government invited the international bidding for hydrocarbon exploration at a time when the country is experiencing a shortage of about 100 million cubic feet (mmcf) of gas per day against its demand of 1900mmcf.