Both Petrobangla and US Oil Company ConocoPhilips agreed on the model production sharing contract (PSC) on offshore block No-10 and 11 following negotiation for four days.
There is no change on major clauses on PSC on offshore block No-10 and 11, a meeting source said.
Petrobangla will place draft PSC on offshore block no-10 and 11 to the Ministry of Power, Energy and Mineral Resources while the ConocoPhilips will place the PSC before it's headquarter in USA for approval, he added. After approval both parties, Petrobangla and ConocoPhilips will sign the PSC.
"We are proceeding on the right track. If it continues, we would be able to sign final contracts with the ConocoPhilips and Tullow within a couple of months," Energy Secretary Mohammed Mohsin told The New Nation earlier.
Irish company Tullow will talks on PSC signing on block No-5 next week. |
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