The National Committee to Protect Oil, Gas, Natural Resources, Power and Port has demanded realisation of compensation from US gas company Chevron for Magurchhara gas field blowout. 

Bangladesh has won a case filed with the International Centre for Settlement of Investment Disputes (ICSID) against Canadian company Niko Resources for the blowout in Tangratila Gas field at Chhatak, Sylhet on January 7, 2005.   State Minister for Power, Energy and Mineral Resources Nasrul Hamid disclosed the verdict of the Washington-based arbitration court through an online videoconference from his home.   The verdict was released on February 28 this year.   “We’ve won the award of ICSID. Our claim was established in the international court that Niko was responsible for the blowout,” he told reporters.    He mentioned that Bangladesh submitted a claim for a total loss of over US$ 1 billion as part of the government’s loss and also of Bapex, a Petrobangla subsidiary.   However, Anisur Rahman, senior secretary of the Energy Division, who took part in the videoconference, said it will not be possible to realise the amount from the Niko Resources as the company has already been declared bankrupt.    “But Bangladesh’s benefit in the win of the case is that the country would not need to pay Niko $30 million against the purchase of its share of gas,” he said adding that Bangladesh also seized Niko’s resources at gas block 9 which the company would not be able to sell out following this verdict.    Niko was trying to sell out the block 9 to a third party but Bangladesh government seized the resources, he said.