Petrobangla, the national oil and gas company of Bangladesh, has publicized a tender for exploration activities in the Bengal Basin sector of the Indian Ocean. This overview reflects the information released by the company and reported by TASS.
The published terms reveal that a total of 24 offshore blocks are up for auction, with 9 blocks in shallow waters and 15 in deeper waters. The invitation to bid is open to international oil companies, and the winning bidders will gain the right to explore and potentially produce hydrocarbons under highly favorable conditions.
Key contractual provisions include full repatriation of profits, with no royalties or signing bonuses required. Gas pricing will align with international market dynamics, while oil pricing will be determined by fair market levels in South and Southeast Asia. The projects also enjoy exemptions from equipment and machinery import taxes, and corporate tax liabilities will be covered by Petrobangla. In addition, winning bidders are expected to maintain a 10 percent stake in the state-owned Bangladesh Petroleum Exploration and Production Company (BAPEX).
Eligibility criteria for entrants are stringent. Applicants must demonstrate an operational history of producing at least 15 thousand barrels of oil equivalent per day at sea, equivalent to 150 million cubic meters of gas. Proven experience in global production projects and gas development is also required to qualify for participation.
In related regional energy developments, there have been reports indicating that Iran is preparing to initiate development on two major oil fields. This context reflects ongoing shifts in the regional energy landscape that can influence exploration and investment decisions across the Indian Ocean littoral markets. Additionally, there have been references to India’s oil imports, with historical instances of Russian-sourced crude impacting regional supply dynamics.
Overall, the Bangladesh tender signals a strategic move to attract international investment for offshore exploration while offering a business-friendly framework that aims to maximize resource development and revenue for the state through a transparent, market-aligned approach. The combination of profit repatriation, absence of royalties and signing bonuses, tax exemptions on equipment, and a mandatory stake in BAPEX positions the bid round as a notable opportunity for seasoned operators seeking to expand their offshore portfolios. As the process progresses, prospective bidders will closely scrutinize performance benchmarks, resource estimates, and the evolving geopolitical environment that shapes energy markets across South Asia and the broader Indian Ocean region.