The discovery of natural oil reserves brings piece of very good news and hope for the nation. In addition to petroleum fuel, a reserve of 43.6-106 billion cubic meter gas was also discovered in the field. The average value of the gas would be about Tk 8500 crore.
Oil reserve was discovered at the first layer at well no-10 of Sylhet Gas Field. The reserve will be able to produce 500-600 barrels oil per day.
About 35 barrels of oil flow is available per hour right now. The extraction at well no-10 reached a depth of 2,576 metres and after testing on Friday, the presence of oil was confirmed at the first layer, at a depth of 1,397-1,445 metres, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Sunday.
In total, four layers of reserve oil have also been discovered and the oil reserve could be lasted for15 years. According to the energy and mineral resources ministry, apart from oil, the extraction of Sylhet-10 gas well at a depth of 2,576 metres has been completed.
The presence of gas was found in three layers from 43 to 100 billion cubic feet. At a depth of around 2,540-2,575 metres, around 25 million cubic feet gas was also discovered. The pressure is there stand at 3,500 PSI.
The country’s stock of gas reserves will be exhausted in 10 years at the current rate of production, according to energy ministry. The fresh discovery of oil and gas reserve will play a crucial role in the energy sector as the reserve of natural gas is declining gradually.
So, it would supply natural gas to the national grid in next 30 years. The government plans to drill more wells in coming days at the newly discovered field.
Fresh
discovery of oil and gas reserve will play
a crucial role in
the energy sector
We also appreciate the state-owned Bangladesh Petroleum Exploration and Production Company Limited (Bapex) that is accelerating the oil and gas exploration and production activities of country. According to the government’s power system master plan, Bangladesh will require 3,150 mmcfd of gas per day for power generation in 2041.
But the country’s overall natural gas output is currently hovering around 2,700 mmcfd including re-gasified imported LNG to the tune of around 450 mmcfd. Of the total natural gas output, Bapex is supplying around 144 mmcfd of gas from its six operating gas fields against their cumulative production capacity of 145 mmcfd.
As per the plan, Bapex took an initiative to dig two wells to explore for gas between 2019 and 2021; 13 wells between 2022 and 2030 and 20 wells between 2031 and 2041. Besides, the prospective gas fields are in three shallow water areas and one deep water area in the Bay of Bengal.
Therefore, we think the government will have to continue its efforts to turn Bapex into an international standard one in gas exploration, extraction and production. Besides, Bapex’s capacity will also have to be strengthened and enhanced in a planned way.
Apart from these, we also think the state-run organisation need to be modernised in gas production, drilling, work-over, rig scheduling, exploration (geophysical and geological), organisational structure and manpower recruitment. If the Bapex is strengthened, Bangladesh would not have to depend on foreign companies to invite them for oil and gas exploration in the country.
