Ahmed Masum & Co.

The Government of Bangladesh has introduced the Bangladesh Offshore Model Production Sharing Contract (MPSC), 2026, establishing an updated legal, fiscal, and contractual framework for offshore oil and gas exploration, development, and production. The Model Contract sets out the terms governing the relationship between the Government of Bangladesh, Petrobangla, and selected contractors, providing greater clarity and consistency for offshore petroleum operations.

The MPSC, 2026 includes comprehensive provisions relating to exploration and development obligations, production sharing, cost recovery, fiscal and taxation arrangements, environmental protection, health and safety standards, technology transfer, local content, dispute resolution, and contract administration. The updated framework is designed to enhance transparency, align with international industry practices, attract domestic and foreign investment, and support the efficient, sustainable, and responsible development of Bangladesh's offshore energy resources while safeguarding national interests.