Volume 17, Issue 23

Petrobangla has taken all preparations for announcing the PSC bidding from September 2020 after getting the Model PSC 2019 approved. It has planned to announce bid submission deadline in February 2021 giving 6 months for preparation. But the COVID-19 starting in China grew as a global pandemic and has become a major impediment. The pandemic has stalled almost every activity. The general holidays announced in March 26 has now been extended to May 30, 2020. There are considerable doubts that the situation would become business as usual condition even after that. Suspension of all economic activities caused oil price in global market depleting to all time low. Consequently, all IOCs started slashing their new investment plans and it continues. Many countries have suspended their bidding round. It is not yet sure whether Bangladesh would follow the trend. But Petrobangla says nothing could be said definitely till offices open after the holidays. But officials said even if the situation gets normal in July, announcements for PSC bidding cannot be made in September 2020.

e-Copy: Volume 17, Issue 23

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