Dhaka, Feb. 21 -- A lone international contractor hired to delineate hydrocarbons in Bangladesh's offshore blocks did little over the past two years, while the country suffers fuel shortages, sources say.

India's oil-and-gas-exploration company named ONGC Videsh Ltd (OVL) is currently the only international oil company (IOC) that has rights to explore untapped offshore in some blocks in the Bay of Bengal, says a senior Petrobangla official.

"But, after a 'failed' attempt at Kanchan gas-well under the SS-04 block in Moheshkhali Island a couple of years back, the Indian company did not move forward with its exploration works," he adds.

The tenure of its production-sharing contract (PSC) with Petrobangla is set to expire in February 2025....