ConocoPhillips says Bangladesh block not competitive

摘要

Singapore—ConocoPhillips said Thursday that after further evaluation it found that block SS-07 located offshore Bangladesh in the Bay of Bengal was no longer competitive in the company’s portfolio, and hence notified Petrobangla that it cannot sign the PSC under the current terms. “We will continue to engage the Bangladesh government to explain the constraints associated with the PSC,” a ConocoPhillips spokesman said in an email response to Platts. “The decision on block SS-07 does not impact ConocoPhillips’ commitment to exploration activities in Bangladesh,” the spokesman added.