US energy giant ExxonMobil has stepped up efforts to re-engage with Bangladesh’s state-owned Petrobangla, signaling renewed interest in offshore gas exploration opportunities.
In a recent communication, ExxonMobil’s New Opportunities Manager Jonathan Wilson confirmed plans to visit Dhaka at the end of March—his first trip since November 2024.
High-Level Meetings Planned
During the visit, the ExxonMobil delegation is scheduled to hold meetings with Petrobangla Chairman Md Arfanul Hoque and Director (Production Sharing Contract) Md Shoeb.
The visit will include an introductory session with senior Petrobangla officials on March 31, along with a separate meeting request with the chairman, subject to availability. Petrobangla officials described the visit as a courtesy call, though it is expected to pave the way for broader discussions.
Focus on Exploration Opportunities
The discussions are likely to center on upcoming oil and gas exploration tenders, both onshore and offshore. ExxonMobil has maintained intermittent engagement with Bangladesh over the years, exploring investment prospects in the country’s largely untapped offshore reserves.
The renewed outreach comes at a time when Bangladesh is actively seeking foreign investment and advanced technical expertise to accelerate exploration and reduce reliance on imported energy.
In 2024, when the Awami League government was preparing to launch oil and gas exploration activities in the Bay of Bengal, ExxonMobil submitted an unsolicited proposal to conduct exploration in 15 deep offshore blocks.
However, the company did not receive a positive response to its request for meetings with the Energy Division or the Prime Minister’s Office. Instead, it was advised to participate in the upcoming bidding round.
It is worth noting that the Bay of Bengal has a total of 26 exploration blocks, including 15 deep offshore blocks. At the time, a section of energy experts recommended negotiating directly with ExxonMobil and signing a Production Sharing Contract (PSC), while others opposed the idea. The government’s higher authorities also showed little interest in engaging in direct negotiations with the company.
According to sources, ExxonMobil may once again raise its interest in signing PSCs through negotiations for the 15 deep offshore blocks during its upcoming meeting with Petrobangla.
Strategic Significance
Although the ExxonMobil delegation’s visit is expected to be brief due to prior commitments, analysts view the engagement as a positive signal for the country’s energy sector.
Energy experts say that deeper collaboration with a global major like ExxonMobil could boost investor confidence in Bangladesh’s offshore bidding rounds, which have historically attracted limited participation.
The development is seen as a potential step toward strengthening international partnerships and unlocking new exploration opportunities in Bangladesh’s energy landscape.
