US supermajor ConocoPhillips has decided to withdraw from three deep-water blocks in Bangladesh, dealing a blow to the country’s hope of new gas discoveries.
ConocoPhillips is said to have informed government officials last week that it would be walking away from deep-water blocks DS-12, DS-16 and DS-21.
The three blocks were provisionally awarded to a joint venture of ConocoPhillips and Norway’s Statoil through the latest offshore licensing round.
