Four consulting firms have been shortlisted to award the job of upgrading Bangladesh's model production-sharing contract (MPSC) and pave the way for launching offshore bidding for hydrocarbon exploration.
The firms are: Wood Mackenzie, Pricewater-houseCoopers (PwC), GaffnneyCline and IHS Markit & RPS Group. Eight global firms had submitted the expressions of interests (EOIs) for the job.
State-owned oil, gas and mineral corporation (Petrobangla) has sent the request for proposal (RfP) documents last week and asked the selected firms to submit those back by mid-February next, a senior Petrobangla official said.
Petrobangla will then select one of them based on their proposals to update the terms and conditions of the existing offshore MPSC 2019.
The consultant's job will be to make the MPSC 2019 more attractive, competitive and internationally acceptable for oil and gas exploration and development, said the official.
The existing model PSCs for both onshore and offshore were prepared in 2018 and were approved by the cabinet committee on economic affairs in 2019.
