Shares in Irish exploration firm Tullow Oil gained 6p to 139p sterling in high turnover in London, amid hopes that the company would be granted rights to develop Bangladeshi offshore blocks. In Dublin the share price firmed 2p to 157. Tullow was one of a number of international oil firms to tender for oil and gas exploration blocks in Bangladesh. Evaluation of the bidding is almost complete and Bangladeshi officials have said they hope the awards will be made by the end of December.

The officials said Tullow was expected to get Blocks 9 and 11 and might eventually go for joint ventures with Chevron/ Texaco for Block 9 and with Mobil and Malaysia's Petronas Carigali for Block 11.