Staff Reporter

The Government will invite foreign firms to explore for offshore oil and gas to meet soaring energy demand to sustain the nation’s fast-growing economy, a highly placed official source said yesterday.
The Council of Advisers at a meeting on Tuesday cleared the plans to invite tenders for production-sharing contracts with foreign companies, Special Assistant to the Chief Adviser on Energy and Power Prof M Tamim told journalists.
“We will invite international tenders by the middle of this month. The oil and gas blocks will be awarded to companies by August,” Prof Tamim said. [Read more]