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Tuesday, Mar 29, 2005

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ONGC engages BDCL to expand in Bangladesh

Our Bureau

New Delhi , March 28

ONGC has engaged an agency to do more business in Bangladesh.

An agreement with the Dhaka-based Bangladesh Development Corporation Ltd (BDCL) has been signed to help scout for upcoming business opportunities there and liaise with Bangladesh authorities, an official communiqué said.

ONGC has been pursuing various business opportunities in Bangladesh for the past few years. To cater to the upcoming business opportunities in Bangladesh, both upstream and downstream, ONGC plans to use the services of BDCL, the release said.

Consequent upon signing of the agreement, ONGC looks forward to increased opportunities in the entire hydrocarbon value chain for training, consultancy and services in upstream E&P (exploration and production) sector; exploration acreages; marketing of refined petro-products (as Bangladesh imports 75 per cent of its product requirement); and marketing of petrochemicals in future - in consonance with ONGC's strategic interest in future.

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