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Gazprom and Petrobangla sign Memorandum of Understanding

RELEASE

A Gazprom delegation headed by Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, paid a working visit to the People's Republic of Bangladesh.

As part of the visit, Vitaly Markelov and Syed Ashfaquzzaman, Corporate Secretary and Member of the Board of Directors of Petrobangla, signed a five-year Memorandum of Understanding for strategic cooperation.

Gazprom and Petrobangla sign Memorandum of Understanding
Gazprom and Petrobangla sign Memorandum of Understanding

Syed Ashfaquzzaman and Vitaly Markelov at signing

In addition, Vitaly Markelov had a working meeting with Sheikh Hasina, Prime Minister of the People's Republic of Bangladesh. The parties discussed the prospects of cooperation in the energy sector.

Background

Gazprom's interests in Bangladesh are represented by Gazprom EP International B.V., a specialized company for implementing international projects, including those in the areas of hydrocarbon prospecting, exploration and production, as well as power generation and LNG.

Gazprom's main partner in Bangladesh is Petrobangla, a state-owned corporation engaged in oil, gas and mineral resource-related activities.

In 2012 and 2015, Gazprom EP International and Petrobangla signed the contracts to build exploratory and development wells at a number of gas fields in Bangladesh. In 2017, a contract was signed to construct two prospecting and exploration wells on Bhola Island in the south of Bangladesh.

Since 2012, Gazprom EP International has designed and built 17 appraisal, exploration and development wells at eight fields in Bangladesh. The total flow rate of these wells has reached 7 billion cubic meters of gas per year.

 

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