All three are expected to present their respective claims for UN arbitration by mid-2011.

Foreign Minister Dipu Moni, who was present at the meeting, said: 'After 22 years of maritime dispute, we have started holding dialogues with our neighbouring countries for the first time. We have to submit our claims on maritime boundary to the UN by July 2011.'

She said a cell has been created in the foreign ministry to prepare the claims.

'We believe we can resolve the disputes through negotiations with our neighbouring nations,' the foreign minister added.

An official at the energy ministry told reporters that Tullow, which has been awarded a shallow water block, would get four years to explore its block and must produce oil or gas within eight years of signing of a Production Sharing Contract (PSC) with Petrobangla.

Conoco, which was awarded deep sea blocks, will get five years for exploration and nine years to produce hydrocarbon.

Seven oil companies had submitted proposals for 15 blocks out of 28 during last year's bidding.

Conoco Phillips offered to invest $442.63 million under four PSCs for eight blocks, while Tullow proposed to invest $50 million in a single block.