In the last decade, mineral resources sector has witnessed a revolutionary enhancement and progress in our country. Under the able leadership Prime Minister Sheikh Hasina, we witnessed sheer development in this sector. Now in a bid to get an accurate idea of the number of mineral resources inside the maritime boundary of Bangladesh, the government is going to start a 'Multi-Client survey' to attract foreigners for oil and gas exploration for the first time.
The multi-client survey will play a major role in the exploration of oil and gas at sea. Results will be available three months after the survey begins. The consortium will bear all the expenses of conducting the survey. In the future, those foreign companies interested in exploring for oil and gas at sea will buy the data of the survey.
We recommend the government to launch
various energy efficiency programmes for
the future of the country’s energy security
To meet the domestic demand, Bangladesh is importing costly LNG (Liquefied Natural Gas) from the international market. Its own gas reserves are also declining. If the country finds a sufficient amount of oil and gas reserves in the Bay, it can help overcome the current crisis and save a huge amount of money.
The government should therefore focus on originating more research and development programmes. This should be done to explore more sustainable sources of mineral resources and instead of using oil we can extract cheap gas-based solutions for electricity production, which will further decrease the cost of production and increase profit. We also recommend the government to launch various energy efficiency programmes for the future of the country’s energy security.
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Bangladesh still has many unexplored areas and potential reserve forms, and these surveys will surely increase high prospects of finding significant new gas and maybe oil reserves as well. Therefore, a serious survey drive can certainly offer the country enough gas to offset the policy of imported energy dependence.