Offshore oil, gas exploration: 7 foreign firms bought tenders so far

State Minister for Power, Energy and Mineral Resources Nasrul Hamid today said seven international companies have so far bought tenders to participate in oil and gas exploration in the Bay of Bengal.

He said this while talking to reporters after attending a seminar at a Dhaka hotel today. More than 15 international companies participated in it.

The state minister said many other companies have also expressed interest in working in the sea for the exploration work.

"In this tender, we have considered the interests of the country as well as the investing companies. We are very optimistic about this year's tender," he said.

Prime Minister's Energy Adviser Tawfiq-e-Elahi Chowdhury said this year's tender is different from previous years' tenders.

He said South Asia is a good place for investment as it remains a peaceful region despite a volatile situation in the international energy market.

"Those who think about long-term investments should consider this. There is a big gas market around our sea. Investing in the area is less risky than in any other country. Considering the overall aspect, we think many will participate in the tender process.

"Chevron has invested $4 billion in our country. This shows how promising our country is," he added.