PSC
New PSC: Petrobangla awaits final nods to invite int’l bidding for offshore blocks
State hydrocarbons agency Petrobangla’s is close to receiving the nod from the very top, to invite a round of international bidding for Bangladesh's offshore gas blocks based on its new model production sharing contract (Model PSC) within the current year.
A proposal in this regard was recently sent to the Prime Minister’s Office (PMO) for its approval to proceed, UNB understands from its sources.
“We’ve received initial approval from the Energy and Mineral Resources Division and then, as the next step, it was forwarded to the PMO as Prime Minister is the in-charge of the ministry,” said a top official of Petrobangla, preferring not to be named in discussing the sensitive issue.
He said after the PM's approval, it would be placed in the Cabinet Committee on Economic Affairs (CCEA) for the very final approval, as it acts as the highest policymaking body. Since the PM heads the CCEA, that should be a formality once it passes her desk.
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Then Petrobangla will be free to move towards inviting the international bidding round, he noted.
Earlier, Petrobangla updated its Model PSC, to make it more attractive for international oil companies (IOCs) to explore for oil and gas in the country’s maritime areas in the Bay of Bengal.
In the new Model PSC, the gas price will be offered at 10 percent of Brent Crude, the most traded of all the oil and gas benchmarks. It means if Brent is being traded at $75 per barrel, the price at which the government would buy any gas the company is able to produce at $7.5 per thousand cubic feet (MCF).
“The gas price will always remain linked with the international oil price,” said the official, referring to the new provision in the 'Model PSC 2023'.
Read: Bangladesh needs to develop a National Hydrogen Strategy, says Australia-based scientist Dr Nawshad
There will also be no difference between the price of gas in shallow or deep water blocks, he said. This is another change from the previous PSC.
“If the oil price goes down or up, the gas price will follow it rationally and Bangladesh will purchase the gas from the IOCs at this rate,” said the official.
Under a Model PSC, normally, if any IOC discovers gas, it gets a 40 percent stake while the government obtains the remaining 60 percent.
The government also buys the IOC's gas at a certain price. So if the gas price is raised, IOCs feel encouraged to invest in exploration works.
Read: Petrobangla initiates move to end foreign company’s monopoly in pre-paid gas metering system
The government had last amended the Model PSC in mid-2019, whereby the price of gas for any participating IOC, that is, the price at which they would sell the gas to the government, was set at $5.5 per MCF for shallow water blocks, and $7.25 per MCF for gas extracted from deep sea blocks.
Scottish consultancy firm Wood Mackenzie was appointed last year to update the Model PSC - specifically, to make it more attractive to IOCs.
Petrobangla chairman Zanendra Nath Sarker recently said the organisation forwarded its proposal to the Energy and Mineral Resources Division for approval with a plan to go for international bidding by July or August this year.
Officials said previously many IOCs were reluctant to participate in the bidding of the exploration due to the low price offered by Bangladesh.
Read More: Petrobangla initiates move to end foreign company’s monopoly in pre-paid gas metering system
Official sources said the recent excessive hikes in petroleum fuel price, especially that of liquefied natural gas (LNG), prompted the government to go for further amending the existing PSC so that the IOCs get interested to invest here.
The country has a total of 48 blocks of which 26 are located offshore and 22 onshore. Of the 26 offshore blocks, 11 are located in shallow sea (SS) water while 15 are located in deep sea (DS) water areas.
Of these, 24 offshore gas blocks remain open for IOCs while two blocks -SS-04 and SS-09-are under contract with a joint venture of ONGC Videsh Ltd and Oil India Ltd where drilling works have recently started.
Bangladesh's offshore area remains largely unexplored, especially its deep sea (DS) blocks, despite the settlement of its dispute with neighbouring Myanmar and India over the maritime boundary almost nine years ago.
Read more: Govt planning to invite int’l bidding for offshore blocks with more attractive PSC
Currently, about 2300 mmcfd gas is being produced from 22 gas fields in Bangladesh, while about 700 mmcfd gas is being imported from abroad to meet the demand of about 4000 mmcfd, leaving a deficit of about 1000 mmcfd daily.
Govt planning to invite int’l bidding for offshore blocks with more attractive PSC
The government of Bangladesh is preparing to invite international bidding for the country's offshore gas blocks by making the model production sharing contract (Model PSC) more attractive for international oil companies (IOCs) to invest in hydrocarbon exploration in the Bay.
“We’re going to offer the price of gas at 10 percent of Brent Crude,” a top official of Petrobangla, the state hydrocarbons agency, told UNB, referring to the most traded of all of the oil benchmarks.
The official, preferring anonymity to discuss the sensitive issue, said if Brent oil is traded at $75 per barrel, the gas price would be $7.5 per thousand cubic feet (MCF). The gas price will always remain linked with the international oil price, he said, referring to the new provision of the 'Model PSC 2023'.
Also read: Petrobangla to amend Model PSC further to attract IOCs in offshore gas exploration
But there will be no difference between the price of gas in shallow and deep water blocks, he said.
“If the oil price goes down or up, the gas price will follow it rationally and Bangladesh will purchase the explored gas from the IOCs at this rate,” said the official.
Under a Model PSC, normally, if any IOC discovers gas, it gets a 40 percent stake while the government obtains the remaining 60 percent.
The government also buys the IOC's gas at a certain price. So if the gas price is raised, IOCs feel encouraged to invest in exploration works.
Read More: Govt expedites gas exploration activities to increase primary fuel supply: Nasrul Hamid
The government had last amended the Model PSC in mid-2019, whereby the price of gas for any participating IOC, that is, the price at which they would sell the gas to the government, was raised to $5.5 per MCF for shallow water blocks, and $7.25 per MCF for gas extracted from its deep sea blocks.
The source also informed that the new proposal has been prepared as per the recommendations of a Scottish consultancy firm, Wood Mackenzie, which was appointed last year to work out the new plan for Petrobangla to attract the international bidding for IOCs.
Talking to reporters, Petrobangla chairman Zanendra Nath Sarker recently said the organisation has recently forwarded its proposal with the Scottish consultancy firm Wood Mackenzie’s recommendation to the Energy and Mineral Resources Division of the Ministry of Power, Energy and Mineral Resources seeking its approval for the plan.
Read More: Amid nationwide gas shortages, new exploration work continues in Sylhet
The ministry will now seek the approval of the Prime Minister’ Office for Petrobangla's plan.
“Once we receive the nod of the PMO and the ministry, we would place a proposal to the Cabinet Economic Affairs Committee for the final approval,” he added.
Another senior official of Petrobangla also said that as soon as the Cabinet body approves the proposal, the organisation will invite international bidding within two months. “In this case, we hope we can go for bidding within July or August next,” he told UNB preferring anonymity.
He said previously many IOCs were reluctant to participate in the bidding of the exploration due to the price offered by Bangladesh.
Read More: Accelerate gas exploration to overcome energy crisis: ICCB
“Now we hope it will be a lucrative offer for the IOCs to invest in the offshore areas of Bangladesh for gas exploration,” he added.
Petrobangla appointed Wood Mackenzie last year to help amend the Model PSC 2019, to attract international oil companies amid the volatile international fuel market.
Official sources said the recent excessive hike in petroleum fuel price, especially that of liquefied natural gas (LNG), has prompted the government to go for further amending the existing PSC so that the IOCs get interested to invest here.
The country has a total of 48 blocks of which 26 are located offshore and 22 onshore. Of the 26 offshore blocks, 11 are located in shallow sea (SS) water while 15 are located in deep sea (DS) water areas.
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Of these, 24 offshore gas blocks remain open for IOCs while two blocks -SS-04 and SS-09-are under contract with a joint venture of ONGC Videsh Ltd and Oil India Ltd where drilling works have recently started.
There was a target to invite international bidding in March 2020 for exploration in offshore areas, but that got postponed due to the Coronavirus pandemic that emerged at exactly the same time.
"The recent upward trend in oil and gas price has pushed the policymakers to further raise the gas price by introducing much more flexibility and incentives including keeping the export option open in the PSC," said another Petrobangla official.
He mentioned that the government had to import LNG at $36 per MMBtu while it was just below $10 early last year.
Read More: Gas Fields in Bangladesh: Exploration of 2 more wells expected to begin this year
The latest Russian invasion of Ukraine has further deepened the global market volatility pushing up the petroleum fuel price over $100 per barrel, the highest in the last 7 years.
Now again the oil and gas prices are on a downward trend and Brent crude oil is traded at $75 per barrel while LNG price is at below $14 per MMBtu.
Bangladesh's offshore area remains unexplored despite the settlement of its dispute with neighbouring Myanmar and India over the maritime boundary almost nine years ago.
Currently, about 2300 mmcfd gas is being produced from 22 gas fields in the country, while about 700 mmcfd gas is being imported from abroad to meet the demand of about 4000 mmcfd, leaving a deficit of about 1000 mmcfd.
Read More: US companies encouraged for oil, gas exploration in Bangladesh's offshore
Job Circular in Bangladesh Public Service Commission 2023: PSC Non-cadre Major Recruitment, 2953 Vacancies
Bangladesh Public Service Commission (PSC) has released recruitment Circular for several non-cadre posts. 2 thousand 953 officers will be recruited in various ministries and departments through PSC. Out of these, three are of 6th grade, one is of 11th grade and the remaining posts are of 10th grade.
Recruitment of posts for PSC Job Circular 2023
Among the 2 thousand 953 people, the most will be taken 2 thousand 367 senior staff nurses in the Ministry of Health and Family Welfare. 55 diploma nurses will be taken in prison department.
Read: Bank Job Circular 2023: 468 job opportunities in Sonali and Janata Bank
52 Assistant Engineers (Stores), 85 Assistant Engineers (Electrical), 205 Assistant Engineers (Mechanical/Train Examiner/Drawing), 35 Assistant Engineers (Ways), 31 Assistant Engineers (Works), 11 1 Assistant Engineer (Bridges), 8 Assistant Engineers (Estimator), 15 Assistant Engineers (Civil Drawings), 71 Assistant Engineers (Signal/Telecommunications), one Assistant Engineer (Estate) and 2 Assistant Engineers (Marine).
1 Deputy Assistant Engineer in Jute Directorate, 10 Motor Vehicle Inspectors in Bangladesh Road Transport Authority and 1 Administrative Officer in Cabinet Department will be appointed.
How to apply on PSC Job Circular 2023
One or more posts can be applied according to the educational qualification. If applying for more than one post, separate registration fee has to be submitted for each post. Candidates have to complete the online registration process and fee submission by filling the application form Applicants Copy (BPSC Form-5A) prescribed by the Commission on Teletalk website or Bangladesh Public Works Commission website.
Clicking on the non-cadre option on the website will show the radio button for the instructions regarding non-cadre post notification, online filling of application form, fee deposit through SMS and receiving admit card.
Read: Bangladesh Railway Recruitment Circular 2023: Bangladesh Railway will recruit 1,385 people
Before filling the form, you must check this link (http://www.bpsc.gov.bd/sites/default/files/files/bpsc.portal.gov.bd/psc_exam/798c8c07_2526_4d71_873e_333e28c15904/(04-19%20)%20Advertisement-(Combined)%20January%202023.pdf) for detailed information regarding application procedure, fee submission and recruitment.
Application fee for PSC Job Circular 2023
Within 72 hours of online form filling, examination fee of Tk 600 for 6th grade post, Tk 500 for 10th grade post and Tk 300 for 11th grade post through SMS from Teletalk prepaid number.
Application Deadline: 7 March 2023.
13,000 pass 41st BCS written test
A total of 13,000 candidates have passed the 41st Bangladesh Civil Service (BCS) written examination.
Bangladesh Public Service Commission (PSC) published the results on Thursday (November 10, 2022).
Read More: Govt publishes 40th BCS gazette appointing 1,929 candidates
The results are available at the PSC website- www.bpsc.gov.bd. And Teletalk BD Ltd website-
http://bpsc.teletalk.com.bd
Besides, one can get the results by sending SMS -- PSC38 Registration Number -- to 16222 from any Teletalk mobile number.
The PSC said the viva voce of the successful candidates of the 41st BCS written examination will start from the first week of December 2022 and the detailed schedule will be published through its website and newspapers in due time.
Read More: 40th BCS non-cadre candidates form human chain in front of PSC
40th BCS non-cadre candidates form human chain in front of PSC
Hundreds of non-cadre candidates of the 40th BCS on Monday (October 31, 2022) formed a human chain in front of the head office of the Public Service Commission (PSC) in the city to demand that authorities reinstate previous appointment policies of the commission and repeal new procedures of the non-cadre appointment.
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They demanded that the commission repeal the new appointment policy for the non-cadres of the 40th-44th BCS, provide all posts of the 40th BCS non-cadres which have been given to the 36th-38th BCS non-cadres.
Petrobangla to amend Model PSC further to attract IOCs in offshore gas exploration
State-owned hydrocarbon corporation Petrobangla has moved to further amend the Model Production Sharing Contract (PSC) 2019 in order to attract international oil companies (IOCs) amid hike in fuel prices in the international market.
The principal upstream energy body is going to appoint an experienced foreign consultant to draw the amendments that would convince the IOCs to invest in Bangladesh’s offshore gas fields.
“We’ve already sought expression of interest (EOI) from interested parties to choose a consultant for the job,” Shahnewaz Parvez, General Manager (Contract) of Petrobangla, told UNB.
He informed that November 21 has been set as the deadline to submit the EIO by the interested bidders.
Official sources said the recent excessive hike in petroleum fuel, especially that of the liquefied natural gas (LNG) has prompted the government to go for further amending the existing PSC to attract the IOCs to invest in Bangladesh’s offshore gas blocks.
Read: India looking for more foreign investments in Oil sector: minister
The country has now a total of 48 blocks of which 26 are located in offshore areas and 22 onshore. Of the 26 offshore blocks, 11 are located in shallow sea (SS) water while 15 are located in deep sea (DS) water areas.
Of these, 24 offshore gas blocks remained open for IOCs while two blocks —SS-04 and SS-09—are under contract with a joint venture of ONGC Videsh Ltd and Oil India Ltd where drilling works have recently started.
Official sources said that the government had amended the Model PSC last in mid of 2019 raising the gas price for IOC to $5.5 per thousand cubic feet (MCF) for shallow water blocks while $7.25 per MCF for deep sea blocks from the below $5 per MCF.
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There was a target to invite international bidding in March 2020 for exploration in offshore areas, which was postponed due to the Coronavirus pandemic that emerged at exactly the same time.
“The recent upward trend in oil and gas price has pushed the policymakers to further raise the gas price by introducing much more flexibility and incentives including keeping the export option open in the PSC”, said another Petrobangla official.
He dropped an indication that gas price might be increased up to $7.25 per MCF for shallow sea blocks while $8.5 per MCF for deep sea blocks considering the upward global trend in petroleum price.
He mentioned that the government had to import LNG at $36 per MMBtu while it was just below $10 early this year.
Recently, the World Bank also made a prediction that the petroleum price might not see any fall until the end of 2022.
Under a Model PSC, normally, if any IOC discovers gas, it gets 40 per cent stake while the government obtains the remaining 60 per cent.
The government also buys the IOC’s gas at a certain price. So, if gas price is raised, IOCs feel encouraged to invest in exploration works, said the Petrobangla officials.
They said this is the first time, at least a 15-year experienced foreign firm will be hired to help the government to prepare the amendments in the PSC as foreign companies can give best suggestions as to which kind of incentives be offered to attract IOCs.
Officials said the Energy Division had instructed Petrobangla to hire such a consultant in February this year. But negligence of some top officials delayed the work.
They said Petrobangla now plans to complete the appointment of consultants within the next two months and receive their report by April next year. It hopes to complete the amendments by May and invite international bidding for IOCs in June next year in order to start exploration works before the end of 2022.
Officials said that the foreign contractor, which was awarded a contract to conduct multi-client seismic survey in the offshore sea blocks, has also suggested updating the Model PSC to attract IOCs in the changed scenario in the global petroleum market.
Bangladesh’s offshore area remained unexplored despite it had settled its dispute with neighbouring Myanmar and India over the maritime boundary almost eight years ago.
It has had no success in exploration of oil and gas in its offshore areas located within its maritime boundary, said an energy expert wishing not to be named.
No bar to holding 41st BCS preliminary exam on March 19: HC
The High Court on Tuesday cleared the way for holding the 41st Bangladesh Civil Service (BCS) preliminary examination on March 19, dismissing a writ petition seeking postponement of the test.
Hire 3rd, 4th class employees through PSC: President to BPSC
President Abdul Hamid on Sunday asked the Bangladesh Public Service Commission (BPSC) to recruit third and fourth class employees through the PSC.
42nd, 43rd BCS circulars published
The Public Service Commission (PSC) has issued circulars of the 42nd and the 43rd Bangladesh Civil Service (BCS) exams.