Russian energy company Gazprom is in the final stages of securing a contract worth a significant amount to drill five new onshore gas wells in Bangladesh. The deal, which is expected to be awarded under special provisions that bypass the traditional tendering process, is part of Bangladesh’s efforts to boost domestic natural gas production and reduce the expenses associated with liquefied natural gas (LNG) imports. Gazprom is currently preparing technical and financial proposals for the contract, with price negotiations set to follow. This contract will include various aspects such as construction, rig commissioning, procurement, and insurance coverage. The financial details of the deal are substantial, making it a significant development in Bangladesh’s energy sector as the country seeks to bridge the gap between natural gas demand and production.
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