The government has approved a project to procure new drilling rigs in a bid to strengthen the capacity of Bangladesh Petroleum Exploration and Production Company Limited (Bapex) and accelerate domestic gas exploration.
Planning Adviser Dr. Wahiduddin Mahmud disclosed the decision while briefing reporters after a meeting of the Executive Committee of the National Economic Council (Ecnec) held at the NEC conference room on Wednesday.
He said the government has been persistently trying to reduce dependency on imported LNG by expanding local gas exploration.
“In almost every Ecnec meeting, one or more gas exploration projects are discussed and approved. This time, we have cleared a project for procuring rigs for Bapex so that exploration activities can move forward at a faster pace,” he said.
The adviser noted that while Bapex currently owns a few rigs its existing capacity is not sufficient to meet the growing demand for drilling.
“For serious and sustainable exploration more rigs are necessary. Under the project, three new rigs of varying horsepower will be procured. Some advisers even recommended buying additional rigs so that we do not remain overly dependent on foreign companies,” he said.
Dr. Mahmud said international oil and gas companies operating in Bangladesh often rely on local engineers and technicians during exploration and drilling operations.
“So, if foreigners can do it by engaging our local engineers, why can’t Bapex strengthen its own capacity? For a long time, Bapex’s expansion was held back for lack of investment, inadequate training, and shortage of manpower. But we have capable professionals. Many of our engineers working abroad are interested to return home if they are given proper facilities and respect. Even those who are retired have expressed willingness to contribute,” he added.
Highlighting Bhola as one of the most promising regions for new gas finds, the adviser said exploration there has already made significant progress.
Several wells in Bhola are in the final stages of drilling, while others are in different phases of exploration, said the adviser.
The newly approved project will help accelerate these efforts, said.
He further noted that expanding Bapex’s capacity is crucial not only to reduce import dependence but also to ensure energy security in the coming years.
