Dhaka, Jan. 9 -- China's state corporation Sinopec gets the go-ahead to drill five new hydrocarbon wells on the gas-rich Bhola island as Bangladesh moves to enhance output of the fuel to feed the energy-hungry economy.

State-run Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX) issued Wednesday notification of award (NOA) to the Chinese oil- and gas-exploration-company, codenamed Sinopec, sources have said.

Final deal-making is expected within next 40 days, a senior BAPEX official told The Financial Express Thursday. Sources say BAPEX, a subsidiary of Petrobangla, has selected Sinopec through competitive bidding.

After inking the final deal, the Chinese company will have to complete the five-well-drilling programme wi...