Bangladesh expands energy sector

Oct. 1, 2009 at 4:57 PM
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DHAKA, Bangladesh, Oct. 1 (UPI) -- Bangladesh's government is to make substantial investments to ensure security of the country's energy sector.

Prothom Alo newspaper reported Thursday that government officials speaking off the record stated that the government will bolster oil and gas exploration activities with an emphasis on promoting indigenous companies in order to bolster the long-term energy security of the country.

The government is also considering merging the state-run Bangladesh Oil Gas Exploration Co. with the two state-owned lifting companies, Bangladesh Gas Fields Co. Ltd. and Sylhet Gas Field Co. Ltd. in order to increase efficiency and enhance the country's domestic exploration capacities. The official sources stated that the merger of the three companies could boost the resulting conglomerate to international standards, allowing for an increase in hiring specialist geologists and engineers while enticing back workers who have gone abroad with jobs in foreign companies during the last few years.

Energy Secretary Muhammad Mohsin told the newspaper that while discussions have begun on this at the highest official level, no decisions have yet been taken.

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