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Published on September 8, 2014
The bidding will likely offer seven blocks—each having an exploration area of 1200-2000 meter.
The announcement came days after Prime Minister Sheikh Hasina yesterday instructed the energy and mineral resources ministry to invite fresh bids for blocks to ensure optimum extraction of oil and gas from the Bay of Bengal.
About the possibilities of availability of oil and gas in these blocks , he said that "these blocks are adjacent to Myanmar's blocks and they have already gone for bidding after they've found possibilities of extracting oil and gas there," he added.
In next five years the people of Chittagong and hill tracks area will mark a significant improvement on their living standards as the region will see $10 billion in investment, the minster added.
Another five nations had expressed interest to build power plants there, he said.
State minister added that the government plans to build liquefied petroleum gas plants to meet household gas demand.
“If needed we will subsidize it so that everyone can afford it” he said.
Bangladesh Petroleum Corporation and private companies were building LPG plants and it would take over three years to complete them, he added.
The government will introduce a rationing system modeled after India to distribute the LPG.
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