In line with its strategy to “pursue investment opportunities in the energy sector both inside and outside Oman,” state-controlled Oman Oil Company (OOC) has expressed its interest in investing in Bangladesh’s nascent oil and gas sector. This comes on the back of a recent wave of activity between the two countries, which kicked off with the issuing of a royal decree by Oman’s Sultan Qaboos late last year to establish an Omani embassy in Bangladesh.
To this effect, OOC has submitted a proposal to its Bangladeshi counterpart Petrobangla which aims to enhance cooperation between the two state firms. Speaking on 21 January, Bangladesh’s Chargé d’Affaires to Oman, Muhammad Khorshed Khastagir, was reported by the Omani press as saying that the two firms have held preliminary talks on possible opportunities for investment in joint-venture (JV) projects in the south Asian country’s oil and gas industry. (CONTINUED - 285 WORDS)