UK-based Tullow Oil and US ConocoPhillips have won permits to explore three blocks off Bangladesh in a bid round launched last year, a Bangladesh official said. The two have pledged to spend $160.5 million exploring the blocks. Conoco was awarded two deepwater gas blocks and Tullow a shallow-water oil and gas block, according to Mohammad Mugtadir Ali, chairman of state-run energy company Petrobangla. The firms will now reportedly sign deals with Petrobangla and can start survey and other exploration work early next year.
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