Draft of offshore oil, gas contract given go-ahead

The government has given the go-ahead to a new offshore oil and gas contract framework.

It was one of two proposals approved by the Cabinet Committee on Economic Affairs at its 13th meeting today.

The committee gave in-principle approval to the draft Bangladesh Offshore Model Production Sharing Contract (PSC) 2026, proposed by the Energy and Mineral Resources Division.

It also granted partial in-principle approval to a proposal from the Power Division to include electricity imports — from state-owned power plants, joint ventures, Adani Power Jharkhand, and other sources in India and Nepal — under the government’s subsidy list, with the aim of ensuring uninterrupted power supply.