The government has ruled out overseas roadshows to promote its 2026 offshore oil and gas bidding round, Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmood said, The Financial Express reported on 20 July 2026. “I have no plan to arrange such overseas roadshows for the offshore bidding round,” he said, adding that he would speak directly with executives of international oil companies if needed.
What was proposed
Petrobangla and the Energy and Mineral Resources Division had proposed roadshows in Houston and two other centres, for which a consultancy quoted more than Tk 200 million ($1.62 million). The report noted that roadshows held in New York, London and Singapore in 2009-10 did not lead to any signed exploration agreements. The decision aligns with Prime Minister Tarique Rahman’s austerity measures, the newspaper said.
The round
The round launched on 24 May 2026, offering 26 blocks: 11 shallow-water (SS-01 to SS-11) and 15 deep-water (DS-08 to DS-22), with bids due by 30 November 2026. About half a dozen firms, including KrisEnergy, Rystad Energy and ONODO, had bought the information package, and Petrobangla had emailed about 106 companies. The government has also cut the mandatory Workers’ Profit Participation Fund contribution from 5 per cent to 1.5 per cent.
Sources
- The Financial Express: “Minister rules out overseas roadshows for offshore bids” (20 July 2026)
File photo: a drillship (not in Bangladesh). Photo: Christoffer Hjeltnes Støle / CC BY-SA 4.0, via Wikimedia Commons
This article was prepared by Maritime News BD from the report(s) and documents listed above; it was not independently reported by Maritime News BD.
