Gas Exploration
PSC with US co protested
Different organisations yesterday condemned the government's signing of a production-sharing contract (PSC) with the US-based oil company ConocoPhillips for oil and gas exploration from two deep-sea blocks.
They termed the contract as a betrayal to the country's people and demanded immediate cancellation of the deal.
In a written statement, Bangladesher Samajtantrik Dal General Secretary Khalequzzaman called it a "black contract", as it will give 80 percent of the extracted gas to the foreign company.
This means the country would have to buy the gas from the company at a higher price, which would increase the price of power and fertiliser in the future, the statement read.
The contract does not say anything about getting the gas to mainland from the extraction point in the ocean and penalties for possible accidents, said a press release from Gonosonghoti Andolon.
Bangladesh Workers' Party leaders, in a separate press release, said it is in conflict with national interests and would not be accepted by the general people. Instead, the contract should be given to Bangladesh Petroleum Exploration and Production Company (Bapex), they added.
Meanwhile, National Committee to Protect Oil, Gas, Mineral Resources, Power and Ports organised rallies and meetings in Dhaka and elsewhere protesting signing of PSC, a press release said.
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