Eight supplementary agreements were signed today between Chevron Bangladesh Limited, Petrobangla, and the Energy and Mineral Resources Division (EMRD) to incorporate the Secured Overnight Financing Rate (SOFR) into gas and condensate purchase and sale transactions.
Chevron Bangladesh Ltd President Eric M. Walker, Petrobangla Secretary Md Amzad Hossain, and EMRD Joint Secretary Morsheda Ferdous signed the agreements on behalf of their respective organizations.
The agreements were signed under the Production Sharing Contracts (PSCs) for Block 12, and Blocks 13 and 14. These include amendments to the Gas Purchase and Sales Agreement (GPSA) and the Condensate Purchase and Sales Agreement (CPSA).
The signing ceremony was attended by EMRD Secretary Md Altaf Hossain, Petrobangla Chairman A K M Mizanur Rahman, Director (PSC) Engr. Md Rafiqul Islam, Director (Operation and Mines) Engr. Md Shoyeb, and Chevron Bangladesh Director, Company Affairs, Imrul Kabir, among others.