issue billion-dollar bonds for Bapex to enhance its competence at international level in onshore and offshore oil and gas exploration,” he said. Nasrul mentioned that Bapex will participate in next offshore bidding round through joint venture initiative with International Oil Company (IOC) like Indian oil companies. “To that end, the government will impart training to BAPEX manpower,” the junior minister said. Nasrul also said that the government procured drilling rigs and equipments for Bapex to make it more competent and the matter had remained overlooked for last 43 years. Ensuring energy security is the main challenge for the government, he said adding that the government is considering to revise model production sharing contract (PSC) 2012. Bapex managing director MA Baki told daily sun that the state-run exploration company will able to participate in offshore bidding under a joint venture. “Once we gather knowledge under joint venture initiative, Bpaex officials will train up and then they will be able to carry out the difficult task independently,” he observed. He also said Bapex requires only Tk 50 crore to drill a well in onshore blocks whereas it requires over Tk 300 crore to drill a well in offshore blocks in the Bay of Bengal. Bapex is now mobilising fund with 10 percent credit interest from the finance division, Nasrul added. “But we need new management and trained officials if the government goes ahead with the plan to mobilize fund by issuing bonds,” Baki said. The energy and mineral resources division will hold a meeting on post-maritime victory over India and Myanmar tomorrow.
Tuesday, August 5, 2014
Govt considers issuing bonds for Bapex:Daily Sun
issue billion-dollar bonds for Bapex to enhance its competence at international level in onshore and offshore oil and gas exploration,” he said. Nasrul mentioned that Bapex will participate in next offshore bidding round through joint venture initiative with International Oil Company (IOC) like Indian oil companies. “To that end, the government will impart training to BAPEX manpower,” the junior minister said. Nasrul also said that the government procured drilling rigs and equipments for Bapex to make it more competent and the matter had remained overlooked for last 43 years. Ensuring energy security is the main challenge for the government, he said adding that the government is considering to revise model production sharing contract (PSC) 2012. Bapex managing director MA Baki told daily sun that the state-run exploration company will able to participate in offshore bidding under a joint venture. “Once we gather knowledge under joint venture initiative, Bpaex officials will train up and then they will be able to carry out the difficult task independently,” he observed. He also said Bapex requires only Tk 50 crore to drill a well in onshore blocks whereas it requires over Tk 300 crore to drill a well in offshore blocks in the Bay of Bengal. Bapex is now mobilising fund with 10 percent credit interest from the finance division, Nasrul added. “But we need new management and trained officials if the government goes ahead with the plan to mobilize fund by issuing bonds,” Baki said. The energy and mineral resources division will hold a meeting on post-maritime victory over India and Myanmar tomorrow.
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