Petrobangla, the state-run, on May 28 floated re-tender for six shallow sea blocks for which no international companies submitted bids during the first phase of tender between December 18, 2012 and April 1 this year.
The conditions for bids remained the same, officials said.
Interested IOCs will have to submit bids under the Model Production Sharing Contract 2012 for the six shallow sea blocks in the Bay of Bengal —2, 3, 6, 7, 8 and 10—to Petrobangla chairman by 11:00am June 27, 2013, they said.
On the same day, Petrobangla will open the bids in front of the bidders’ authorised representatives at 12:05pm.
Meanwhile, Petrobangla has received approval of the law ministry to amend the model PSC 2012 to increase stakes of international oil companies on deep sea gas blocks 12, 16 and 21.
According to the amendments to the PSC, an IOC would sell 50 per cent of its shared gas to Petrobangla at $6.5 per thousand cubic feet instead of $5 and the rest to a third party at a negotiated price instead of selling its entire gas to Petrobangla at the PSC price.
Cost recovery limit has also been increased to 70 per cent from 55 per cent of the produced oil and gas in the amended PSC and Petrobangla would pay 37.5 per cent corporate tax on behalf of the IOCs.
National Board of Revenue, however, declined to approve another Petrobangla proposal to waive corporate tax of the IOCs dealing with the deep sea blocks.
Petrobangla will pay the corporate tax on behalf of the IOCs, officials said.
Tract them in the bidding process. In the model PSC 2012, the government had increased the price for deep sea gas to $5 a thousand cubic feet from about $4.2 in the model PSC 2008. ConocoPhillips is conducting seismic survey over deep sea blocks 10 and 11 under PSC 2008.
Source : energybangla
